Title: Market Analysis with Jim Lowell
Published: Fri, 23 Oct 2009
Description: (NECN) - Stocks take a tumble, but manage to pull off another week of gains...
Automatically Generated Transcript (may not be 100% accurate)
" About today but did manage to pull off another week of gains the numbers the Dow. Closing at 9972. After falling more than 109 points today for the week blue chips gained more than 23. Nasdaq Composite and -- Put -- fifty for a loss of nearly eleven points for the day for the week the tech heavy index is up to ports. Yes and 500 closes at 1070 -- all -- thirteenth -- for the week the S&P gained eight points. The Bloomberg New England index fell three points today the New England tech stock index off."
" About what the court. I'm market analysis segment -- chief investment strategist at adviser investments an editor of fidelity investor dot com happy Friday gem that diverted thanks for joining us so we had a bunch of seemingly positive news today what was driving the sell off."
" saying enough by the sell off was probably triggered by the railroad companies. Burlington northern Union Pacific the two largest. Shippers apply -- in the US both basically a disappointing not only on turn in terms of earnings but also in terms of their. -- not just for this year but looking at next year. Basically suggesting that we really do have measurably slower growth by their measure the market he's in to shippers as a key indicator. But whether or not this economy is in fact turning around or not and how quickly it's likely to be able to turn around so that is. Cast. All over some very good earnings news coming out of Microsoft and and ripple."
" Yeah Microsoft will start with -- their report profit fell 18% but still beat analysts expectations Microsoft beat."
" The the recession way basically beat by better bottom line no cost cutting measurements and management. -- sales were soft but not as soft as estimates had -- them to be. And we know that just yesterday they launched windows seven which has tremendous potential for Microsoft and technology stocks as a whole."
" A profit fell 47%. It consumer Bellwether. Whirlpool whirlpool stock up on the news."
" Up on the news because it's Wallace was lower than expected and its forecast better than expected in the sense really is that. The consumer. While everyone has written them often said that they have been basically down and out. Is beginning to show signs of life we've seen as an apple and we've seen it and AT&T. Had receded and Amazon for the consumer is potentially back and we also saw a tremendously surprising existing home sales which. While it doesn't bode well for job -- new home sales does because you own cells require builders to build them. Existing home sales does bode well for anything to do with fixing up that home. In particular furnishing it and putting durable goods items like oil pools in your in your existing home."
" I'm -- home sales report how much of that is an indication in your estimate of a turnaround in the housing market. Or do to that first time home buyer tax credit set to expire it's."
" Probably a little with a vote of no doubt about it there's the stampede here at the end period that the first time homebuyer credit will not be renewed clearly driving both first time homebuyers. Into the marketplace and enabling existing homeowners to trade up."
" We mentioned earlier that oil it was dragging down energy stocks today is that a trend that should continue."
" I would most likely to have caught the market a little bit as we went their way through the the final week of October. This is a market that's ahead of its fundamentals of the market always trades ahead of fundamentals either on pessimism or optimism. The reality is that of the 138. S&P 500 companies the reported this week only twenty of them disappointed. He percent of all companies having reported so far. And beat analysts' estimates that's not a bad way to head into the next quarter who are you watching next week. It's really going to be a raft of earnings reports but in particular we get key economic reports. There really bring the consumer and to focus consumer confidence. Income and spending reports in particular we also get a key new home sales report. And it runs -- GDP I think next week economics will likely overrule earnings. As the core driver."
" Jim -- chief investment strategist at adviser investments and editor of fidelity investor dot com have a good weekend Jim thank you --"
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