Tech Talk for Friday September 3rd 2010

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Technical Action Yesterday
Technical action by S&P 500 stocks remained bullish yesterday. Twenty one S&P 500 stocks broke resistance (AvalonBay, Boston Properties,
CB Richard Ellis, Darden Restaurants, Eastman Chemicals, Equity Residential Properties, Expedia, Forest Labs, FMC Tech., Freeport McMoran Copper & Gold, Fortune Brands, Home Depot, Masco, Mead Johnson, Philip Morris, Progressive, Sempra Energy, Simon Properties, [...]

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HAC.TO11.06  chart+0.00  chart +0.00%

^GSPTSE12111.09  chart+0.00  chart +0.00%
S&P 5001090.10  chart+0.00  chart +0.00%
NASDAQ2200.01  chart+0.00  chart +0.00%
2010-09-02 15:59


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Jobless claims, earnings, banks & rating agencies – Vialoux

U.S. equity index futures are slightly lower this morning. S&P 500 futures are down 2 points in pre-opening trade.

Index futures moved slightly lower following release of the weekly jobless claims report. Jobless claims fell 4,000 to 444,000. Consensus was a drop of 9,000.

First quarter earnings continue to exceed expectations. Companies that reported higher than expected first quarter earnings overnight included Canadian Tire, Quadra Mining, Cineplex Odeon, Kohl’s, Whole Foods and Cisco. However, responses to better than expected first quarter earnings are not always positive. Kohl’s eased 2% and Cisco slipped 2% in overnight trading. Cisco also was downgraded from Buy to Neutral by Davenport.

Eight money center U.S. ba [...]

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