In Case You Missed Wednesday
by Michael Goodman | March 3, 2011 4:44 am
Take that, oil prices:
- Oil prices jumped above $100/barrel and stocks managed a gain. So that’s new. But it wasn’t much of a gain, as the DJ total stock market index moved just 0.2% higher. On the other hand, tech stocks and small-caps outperformed, suggesting there still exists some market contingent to see if this buy-the-dip thing still works. (Of course, at some long-term level, it always has). Everybody seemed to be talking about how nobody was talking about gold and silver hitting all-time and 30-ish-year-hights, respectively. The yield on the 10-year note jumped to 3.47%, as inflation-watchers seemed to be spooked by the Fed Beige Book report, which suggested that businesses may actually have the audacity to try to pass on higher production costs to consumers.
- After the closing bell, shares of Foot Locker (NYSE:FL[1]) inched 1.3% higher after the company beat fourth-quarter earnings estimates. Micro-cap Gasco Energy (AMEX:GSX[2]) fell 6%, which is all of 4 cents, after the company’s earnings reports. The stock is among many small energy names catching investor attention in the wake of higher oil prices.
- On Thursday, an a.m. earnings report from Kroger (NYSE:KR[3]) leads the earnings roster. Economic data highlights include weekly jobless claims, a fourth-quarter revised productivity report, and the February ISM nonmanufacturing survey.
OUT THERE SOMEWHERE:
- For New Yorkers who follow such things, Frank Rich[4] bolts for New York magazine.
- The Sierra Club offers their reality check on electric vehicles[5].
- Bubble-pop alert: too many airports[6] in China.
- A mixed[7] read from credit card data.
- U.S. Mint? Out of silver[8], actually.
- Bubble-pop alert, vol. 2: home price increases[9] slow in China.
- Rooting against a recession? It may be the only thing to stop $200 oil[10].
- Maybe. 4 time bombs[11] that will blow up Wall St.
- The dark side of the iPhone — It’s not particularly pleasant[12] making them.
- Saudi stock exchange — now this[13] is a plunge.
Endnotes:
- FL: http://studio-5.financialcontent.com/investplace/quote?Symbol=FL
- GSX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GSX
- KR: http://studio-5.financialcontent.com/investplace/quote?Symbol=KR
- Frank Rich: http://nymag.com/daily/intel/2011/03/frank_rich_joins_new_york.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+nymag/intel+(Daily+Intelligencer+-+New+York+Magazine)&utm_content=Google+Reader
- electric vehicles: http://www.sierraclub.org/electric-vehicles/myths.aspx
- too many airports: http://blogs.ft.com/beyond-brics/2011/02/28/chinas-airport-overkill/
- mixed: http://www.nytimes.com/2011/03/02/business/economy/02debt.html?_r=1&ref=business
- Out of silver: http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?catalogId=10001&storeId=10001&categoryId=13738&langId=-1&parent_category_rn=10191&top_category=10191
- home price increases: http://www.bloomberg.com/news/2011-03-01/china-home-prices-rise-0-5-last-month-slowest-in-six-months-soufun-says.html
- stop $200 oil: http://www.theglobeandmail.com/report-on-business/commentary/jeff-rubins-smaller-world/only-a-recession-stands-in-the-way-of-200-oil/article1924822/
- time bombs: http://www.marketwatch.com/story/story/print?guid=E745AE10-4376-11E0-ADFE-00212804637C
- not particularly pleasant: http://www.wired.com/magazine/2011/02/ff_joelinchina/all/1
- this: http://www.bespokeinvest.com/thinkbig/2011/3/2/saudi-stocks-down-13-days-in-a-row.html
Source URL: https://investorplace.com/2011/03/in-case-you-missed-wednesday-3/