The market shifted quickly to risk version mode yesterday as rates rose and the dollar rallied. The last time the dollar had three positive days in a row was mid September, today is day three, so let’s see what happens. If you believe the dollar rally was a two day wonder, then materials and commodities have to look attractive here, the opposite applies if you believe the dollar rally will continue.
BIDU lost about 55 points in after market trading last night so Chinese stocks could be heavy this morning. Some notable names reporting today include X, WYNN and V (see complete list at bottom).
Have a great day!!
Tuesday, October 27, 2009
Economic
9:00am Aug S&P/CS Home Price Index (last 144.23), Aug S&P/CS Composite-20 (last -13.30%)
10:00am Oct Consumer Confidence (last 53.1), Oct Richmond Fed Manufacturing (last 14)
1:00pm Treasury’s 2-yr note auction
4:30pm API Crude Oil/Gasoline/Distillate Inventories
8:30pm Australia Q3 CPI (last 0.5%)
Events
12:00pm Treasury Sec Geithner addresses SIFMA conference in New York. 4:30pm Treasury Sec Geithner speaks with Charlie Rose at SIFMA conference. LTD Investor Conference. ICSC/UBSW Chain Store Sales (7:45, last +0.2%). Redbook Retail Sales (8:55, last +0.5%). ABC Consumer Confidence (last -50). Trades Ex-dividend: ADTN $0.09.
Earnings
Before the Open: CAS, AGCO, AKS, AMFI, AMED, ECOL, AME, AXE, AVY, BEAV, BMS, BHE, BYD, BP, CAB, CP, CPLA, CRS, CE, CNC, CRDN, CBR, CTV, CCUR, CVG, CPO, CYNO, DIN, DXYN, DSPG, ELNK, ECL, ENTG, EVVV, FE, FMER, FPL, BEN, FDP, GKSR, GIGM, GPI, HMC, HSII, HSP, ICON, IACI, IMA, JCI, LLL, LCAV, LIFE, NS, ORB, OSIS, PCAR, PCX, POOL, QLTI, RYN, SCG, SCHN, SAH, AMTD, TFX, TNC, TXT, TUES, X, UA, USAP, VLO, VDSI, VSH, VTNC, WDR, WAT, WSO, WIT, WYNN. After the Close: ABAX, ACE, ACTL, ADVS, ATAC, ACL, AMKR, ANAD, APOL, AWI, AJG, BBOX, BXP, BTUI, BWLD, CLMS, CRI, CAVM, CBI, CENX, CEPH, CHE, CQB, CMP, CSGS, CTS, DFG, DV, DBTK, DWA, DRCO, ETFC, EWBC, EHTH, ERTS, EXAC, FISV, FTI, GMR, GLF, HRS, ILMN, INSU, IDTI, JLL, KONA, XPRT, LOCM, MEE, MCK, MRCY, MMSI, MEOH, MOLX, NLC, NATI, NBIX, NSR, NAL, NSC, NTRI, OTEX, PNRA, PMTC, PRXL, PEET, PLT, PLXT, PPDI, PSYS, RSYS, RNR, RFMD, SSTI, SONO, SRCL, SFSF, SUNH, SDXC, TSS, TRMB, TRMK, ULTI, USNA, VCLK, V, WSII, WTS.