At 6:45 a.m. futures are slightly up. According to CNN and Reuters, the markets' rise or fall will depend on the weight of more second quarter profits versus the weight of news on Europe's bank stress tests.
Then there is always the x-factor. This would be the unknown hitch that develops in the afternoon and drives investor emotion.
Its unclear, will investors run with the amazingly good second quarter profits and drive the DOW back towards 10,500. Will investors freak at the weight of Europe's fiscal issues and take a step back. Will corporate profits and Europe's fiscal problems cancel each other out, and send everything sideways. This is today's dynamic market drama. The show begins at 9 a.m.
CNN: Futures want to extend the rally
In Europe, report cards on the health of big banks are due to be released at noon ET. The tests are aimed at determining how well European financial firms would fare in the case of another economic downturn.Reuters: Ten banks to fail European stress tests: Goldman
Reuters: Stock index futures point to higher open on Wall Street
Companies expected to report earnings on Friday include Honeywell International Inc, Ingersoll-Rand Plc and Verizon Communications Inc...
5 comments:
Just to show all of u I'm really an optimist. I now have 50% of my savings in stock and bond related investments. Why? Because, leaving money in 1% CD's yr. after yr. goes nowhere. Plus, although it's somewhat risky so is driving and flying and even eating these days. I did however consider roulette briefly. :)
It is like roulette isn't it. Stay on top of it real close, keep in touch with your adviser often, learn as much as you can about your investments, it will sink but if the companies are well positioned, well managed, and have good assets without burdensome debt - the ten year overview should work in your favor especially if its a decent growth or decent dividend stock.
No matter what you do, try as you might, don't lose sight of the fact that you are the stupid money on Wall St.
Ed's right. I know that. But it's even dumber putting ur $$ in a mattress these days.
Rookie's luck GK - DOW bumped up.
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