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Minyanville's T3 Daily Recap: Stocks Wait Anxiously for Earnings Season


Facebook, LinkedIn, Apple, and McDonald's all made the news.

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Blue chip stocks suffered their third straight day of losses Monday, the longest such streak since early June. The Dow was the biggest loser among the indices, dropping 0.28%. Investors appeared anxious ahead of earnings season, which some fear could reflect the deteriorating nature of the US economy. Corporate earnings over the past few years have been remained strong amid cost-cutting, but such measures can only take companies so far.

Overall it was a quiet day of trading, although there were a few select moves. Facebook (FB) finished the day up 1.4%, almost all of which came pre-market. The stock was up 3.5% in the late-morning after news of a Jobs Posting section on the site, but the move faded in the afternoon. LinkedIn (LNKD) closed the day down 5.4% on the news.

Apple (AAPL) continued its relative strength, finishing the day up 1.3%. Since quietly fading into its converging 20-, 50-, and 100-day moving averages, Apple has been on a tear. Ahead of what could be another blockbuster earnings report, Apple has its sights set on all-time highs.

McDonald's (MCD) isn't your typical momentum trading stock, but looks like it can break out of a lower consolidation after making higher lows.

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Scott Redler is long AAPL, SPY, MCD, FB.
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