In Case You Missed Monday

by Michael Goodman | March 8, 2011 4:44 am

Still oily:

It was another market session to file under Oh-it-could-have-been-so-much-worse, but Monday’s late-ish rally fell way short of delivering a glory day for stocks as oil continues to work its black magic on equities’ ability to move higher. Oil did pull back from nearly $107 a barrel, but remained above $105, forcing investors to think about what $110 or $115 might even mean as early as this week. The S&P 500 is essentially unchanged since the end of January and is up just a smidge more than 4% for 2011. The pullback in oil and rebound in the dollar inversely affected the rally in gold and silver, which came back from new all-time and 30-year highs. The yield on the 10-year note climbed above 3.50% for only the second time since Feb. 18.
After the closing bell, Broadsoft (NASDAQ:BSFT[1]) shares jumped nearly 17% after hours following the company’s fourth-quarter earnings report, which beat analysts’ estimates. The company also guided the Street higher for first-quarter and full-year earnings per share. Urban Outfitters (NASDAQ:URBN[2]) fell more than 12% after the company missed fourth-quarter earnings and revenue estimates. United Continental (NYSE:UAL[3]) said that due to increased fuel prices it would reduce capacity about 1% beginning in May, and by about 4% beginning in September.
On Tuesday, again with no ecnomic data to speak of, and no corporate earnings reports coming with any real pop. You’re stuck watching oil prices and a couple of bond auctions.

OUT THERE SOMEWHERE:

Do bankruptcies for cities[4] work?
Now Facebook is worth $65 billion[5], it seems.
Really looking like civil war[6] in Libya.
Hey, everybody: Let’s short the dollar[7]!
Options traders liking this $200-a-barrel oil[8] proposition.
Dividend payouts on the rise[9].
The oil market’s four big unknowns[10].
Yes, stay clear of the bottom 10%[11] of fund managers.
Skype IPO[12] looking closer.
Buick outsells[13] Lexus again.

Endnotes:

BSFT: http://studio-5.financialcontent.com/investplace/quote?Symbol=BSFT
URBN: http://studio-5.financialcontent.com/investplace/quote?Symbol=URBN
UAL: http://studio-5.financialcontent.com/investplace/quote?Symbol=UAL
bankruptcies for cities: http://www.nytimes.com/2011/03/06/magazine/06Muni-t.html?_r=1&pagewanted=all
worth $65 billion: http://www.cnbc.com/id/41892971
civil war: http://www.ft.com/cms/s/0/f1db21c8-4693-11e0-967a-00144feab49a.html#axzz1Fwo9JdYf
short the dollar: http://www.ft.com/cms/s/0/e050b72e-4823-11e0-b323-00144feab49a.html#axzz1Fwo9JdYf
$200-a-barrel oil: http://www.bloomberg.com/news/2011-03-07/saudi-arabia-s-day-of-rage-lures-record-bets-on-200-oil-chart-of-day.html
on the rise: http://online.wsj.com/article/SB10001424052748704076804576180910214266144.html?mg=com-wsj
four big unknowns: http://ftalphaville.ft.com/blog/2011/03/07/506161/the-big-four-known-unknowns-for-oil/
bottom 10%: http://rortybomb.wordpress.com/2011/03/04/the-financial-econometrics-of-the-distribution-of-mutual-fund-performance/
Skype IPO: http://247wallst.com/2011/03/07/skype-updates-ipo-filing-with-full-2010-data/
outsells: http://blogs.cars.com/kickingtires/2011/03/buick-sales-soar-past-lexus.html

Source URL: https://investorplace.com/2011/03/in-case-you-missed-monday-3/