Market Close for Wednesday 08/18/10

After the close…

Notable stocks reporting earnings included: AMAT, BRCD, NTAP and PETM (BRCD -6.4%, NTAP -4.7%, AMAT +0.4%).

For the second straight session the 1100 line kept a cap on the S&P 500, but the benchmark index still managed to make a modest gain despite a lack of legitimate catalysts.

Futures are lower after hours with S&P 500 futures -5.34 points from fair value of 1092.54 and Nasdaq 100 futures -12.2 points from fair value of 1850.45.

Seven of the ten sectors were in positive territory, led by consumer discretionary (+0.9%), telecom (+0.7%) and tech (+0.5%).

Tomorrow morning, one economic report, including two pieces of econ data, is scheduled to be released before the open: 1) Initial Claims (Consensus 475K) and 2) Continuing Claims (Consensus 4500K).

Also tomorrow before the open look for the following companies to report earnings: BONT, BKE, CATO, FLWS, PLCE, DKS, DLTR, FLO, GME, GSOL, HSFT, LANC, LYTS, MAG, NM, NWY, ROST, SCHS, SHLD, SSI, SPLS, SMRT, TECD, TTC, WSM, and YGE.

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