Welcome to The Daily Stock Report...brought to you by QualityStocks.Net, performance tracked daily. I'm Cathy Rankin and for Wednesday April 18th we're bringing you the latest news from around the markets as well as the top movers to look out for today... In Headline News Today... The major averages closed in split fashion Tuesday as investors weighed another round of upbeat earnings reports and tame inflation data against the temptation to lock in some of the market's recent gains. As a reminder, the Dow, S&P 500 and Nasdaq have climbed roughly 3.6% on average during the month of April amid heightened expectations Wall Street analysts may have revised their estimates too low. Meanwhile, with policy makers recently emphasizing their inflation concerns, and the monthly CPI report's ability to influence monetary decision making, early indications were signaling a lower start for stocks. The market's sizable gains a day earlier and the Dow less than 60 points away from its all-time closing high also contributed to the lack of buying interest at the onset of trading. The Dow, S&P 500 and Nasdaq had climbed 2.4% on average over the last two weeks amid heightened expectations the first quarter won't be as bad as initially thought. Today's gains now leave all three indices up about 3.4% on average during the month of April alone. Core consumer prices raising a lower than expected 0.1%, though helped to ease renewed fears about pricing pressures and provided a floor of buying support. In the end, however, the soft number, coupled with rising energy costs that left total CPI with its biggest increase (+0.6%) since last April, did not exactly signal that inflation is back under control. The recent uptrend in energy prices threatens to raise overall inflation pressures and keep the core trends above Fed targets . Further proof of stabilization in housing, following unexpected 0.8% increases in monthly starts and permits, was also encouraging; but the data merely prompted bargain-hunting interest in Homebuilding, this year's worst performing S&P industry group. The bigger story Tuesday was earnings. Coca-Cola and Johnson & Johnson, which topped Wall Street expectations, were the biggest reasons behind the Dow briefly eclipsing its all-time closing high of 12,786.64. While both blue chips acted as notable sources of support for their respective Consumer Staples and Health Care sectors, the defensive characteristics of both stocks also offered less conviction on the part of today's follow-through buying efforts. Technology was also in focus as investors placed their bets on solid earnings reports from tech bellwethers like IBM and Intel. Average gains of more than 1.0% from each Dow component, which were scheduled to report after the bell, accounted for another 10 Dow points. And now for our Small Cap News... brought to you by Sub Surface Waste Management of Delaware, Inc. (SSWM.OB). Sub Surface Waste Management engages in the design, installation, and operation of proprietary soil and groundwater remediation systems for clean up of toxic waste releases to soil and groundwater, and the bio-recycling of spent activated carbon filtration media. Haber, Inc. announced yesterday that Australian based company will be representing Haber in Australia on distribution and marketing of the Haber Gold Process and related technology. Haber, Inc. is a publicly-held innovative research and development company which is transitioning to commercialization and revenue production as well as the innovators of the Non-Toxic gold recovery method known as HGP (Haber Gold Process). BodyTel Scientific, Inc. through its wholly owned subsidiary, GlucoTel Scientific, filed a patent application with the United States Patent Office for a new technology addressing the usability and friendliness of purchasing test strip lots for diabetes patients, as well as reducing the steps necessary to purchase these products by automating the ordering process. BodyTel Scientific, Inc. is a company focused on the development of innovative wireless health monitoring products. And that's our newsmakers, Stay tuned right here to Quality Stocks Daily for the latest news from small cap to large cap, and everything in by QualityStocks.Net, Where performance is tracked daily. Thank you for tuning in, I'm Cathy Rankin, Have a great day and we'll see you tomorrow, right here on the daily report.
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Added: Sep 25, 2007 |
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