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In Case You Missed Wednesday

Silver and gold, silver and gold...


  • Stocks spent half the session in the red and half in the green. As understandable as a lower close would’ve been considering the events in the Middle East and Japan, stocks got off the mat with some help from momentum in materials, precious metals and oil, which crossed $106 a barrel at some point. But it was essentially a rally in name only, as only about 53% of NYSE stocks closed higher, and significantly, a crossover above 1300 on the S&P 500 couldn’t be held. Perhaps more significantly, stocks faded into the close as news from Portugal suggested a government shakeup, like, real soon. Yes, that’s three crisis situations on three continents. Got global selloff?
  • After the closing bell, shares of Red Hat (NYSE:RHT) added 10% in after-hours trading following the company beating analysts’ fourth-quarter earnings and revenue estimates.
  • On Thursday, a couple of off-peak earnings reports that are actually worthwhile: in the a.m., Best Buy (NYSE:BBY) will offer a glimpse into whether people can still buy gas and consumer electronics, while after the closing bell Oracle’s (NASDAQ:ORCL) profit report will be huge for those betting on large-cap tech. Economic data brings the weekly jobless claims numbers and the February report on durable goods orders.

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