Published: Wed, 15 Jul 2009
Description: (NECN) - Intel keeps Wall Street on a winning track. The Dow Jones industrial average closed at 8,616, jumping nearly 257 points-- or three percent, one of its biggest gains this year. The Nasdaq composite finished at almost 1,863-- climbing...
Automatically Generated Transcript (may not be 100% accurate)
" Intel keeps Wall Street got a winning track the numbers. The Dow Jones Industrial Average closed at 8616. Jumping nearly 257. Points or 3%. One of its biggest gains in the year the Nasdaq Composite finished it almost 1863. Climbing 63. That's three and a half percent S&P 500 ended his more than 933 rising nearly 27. Almost 3%. Regionally Bloomberg's New England index gained seven and a half points. The New England tech stock index went up nearly three and a market analysis tonight Jim -- chief investment strategist at adviser investments. And editor of fidelity investor dot com welcome Jim could -- just well he hated that it last night the -- that makes its biggest gain in three months and we have been so I guess the thanks for that."
" We absolutely did and that would Hollywood I would go we thought we would get nothing derail this market's enthusiasm. For Intel's release -- extraordinary earnings related news. And revenue forecast and going forward basis neither the economic data that day nor follow on earnings from the -- did anything other than suggest. That this is an economy and that's the market. That's likely to remain in recovery mode but CPI was up a bit but certainly nothing to rave about -- no not at all and it ticked up just just a bit but certainly a lot of consensus estimates and that. Year over year trend. Is still reflects the absolute crisis period last year store and reflects basically. The deflationary trend I think though that the new administration would really like to see some inflation. In these numbers because without that the question ability of whether or not. Growth is gonna make a comeback remains an overhang for their stimulus plans and it's affected. Looking at that Intel come back for a second what does that tell you about tech stocks in the weeks and months it tells me is that pretty much has done -- are gonna likely be the leaders of this recovery. Really I think not just this year but we're going out over the next year or two. In particular we know that there hasn't been any sort of macro upgrade since Y -- K cross businesses from different sectors and industries. And given the need today to basically fund. Production efficiency without. Hiring tens of thousands of people to turn to technology in health and other Microsoft about to roll -- A new office versions and I think the scream for technology. With them on missteps along the way it looks basically gray whale oil prices seem to be in check. Hope prices have been injected and there are some interest these sort of counter influence is going on one of the key things though is that. Oil prices are likely to move higher they did that today it was a surprise in the inventory report the bigger draw down or actually just to draw down which is not expected. Longer term trend for oil is basically double the price this time next year from car price well well. All right what about Thursday market movers. Well -- some earnings is but I really think it's gonna be the jobless claims numbers in particular that set the tone. We do you get builders' confidence index some other key economic data but really this market will likely -- cause. And wonder what she is gonna tells on Friday and even as we're speaking. CI TV major lender to small businesses looks as if it's not gonna get another round of bailout from. The new administration that could definitely troubled streets tomorrow fields -- yes. Whether certain kind of hold our breath for that GE report absolutely -- market analysis tonight we have Jim hello thank you Jim I said."