Published: Mon, 12 Oct 2009
Description: (NECN) - Today, trading was light; stocks gave up most of their early gains. The major indexes budge just a fraction of a percent. We take a closer look at the numbers with Jim Lowell, Chief Investment Strategist with Adviser Investments....
Automatically Generated Transcript (may not be 100% accurate)
" Today trading was light stocks gave up most of their early gains the major indexes but just a fraction of a percent take a closer look at the numbers now the Dow Jones Industrial Average. Closed at nearly 9886. Up almost 21 points the Nasdaq Composite finished at 2130 ninth. Dropping a fraction of a point the F and 500 ended at 10076 gaining nearly five. Regionally Bloomberg's New England index rose a fraction of a point and the New England tech stock index also went up a fraction of a point."
" Market analysis tonight Jim -- is chief investment strategist at adviser investments and editor of fidelity investor dot com -- and Jim good inherited. Dow Jones Industrial Average we'll start with that this evening coming within seventy points of that 10000 mark before falling back."
" It's government of minutes -- today light volume trading notwithstanding the reality on the ground. Is that this is a market that's likely to move up on optimism in advance of the bulk of earnings data. The assumption being that we really are going to see better than consensus estimate so across all sorts of industries. Not just. Towards stabilization but even. Pockets where we will see some top line growth some sales related growth. That said we get a big check up on whether or not that's gonna hold true. This week we have -- Intel tomorrow after the close absolutely critical for the technology sector wheels -- IBM later in the week we have several banks Citigroup Bank of America. We also get tea so this will be a week I think that the markets will either. Used to propel this rally further forward or if they don't -- what what the market's already present in -- that optimistic assessment because people like."
" And investors were excited about Black & Decker today. Altering its guidance and the positive direction and that's important because Black & Decker is a company that makes thing you think you used to build stuff."
" It absolutely is so Black & Decker AutoZone stocks that consumers. Basically turned it to buy goods and services to mend their own fences are. Typically a good Bellwether indicators of a trough and a recession. And I think what we saw today with the Black & Decker is actually upping its guidance on going forward basis. Signaling that maybe not just to do it yourselfers for home builders may be getting back in the game Ford also strong today primarily on those sales in Europe. Yeah and one of the things to a note about forward of course the the only. Major US auto companies did not take a bailout. Is it continues to gain market share against its domestic competitors it is in significantly better strength here at home but it's also growing. In a little bit of market share overseas so if one's looking to invest in the auto sector enough -- that is for the faint of heart. Ford certainly remains the -- oil up over 73 dollars a barrel today and the gold rush continues. Interesting to see oil continuing to push higher as we've talked about often oil basically is an indicator that. The global economy is is back on track and so we did get an -- to report from Singapore today. Suggesting that that manufactures turning around there as well as for the second quarter of positive GDP growth. And senators a gold of that too is basically a fear trade. You're basically of inflation coming down the -- inflation seen a sign of growth. But careful of the bubble. But be careful of the bubble and gold in particular. And also an oil there's not a lack of supply and either of those cases. But there is just an extraordinary investor demand for them and that's really what's driving a surprise well we'll be watching the earnings reports tomorrow we'll CNN. Thanks Saturday Jim -- from adviser investments and fidelity investor dot com."