Market Close for Tuesday, August 24, 2010

After the close…

Today after the close DY, NCTY, PAY and PSUN were the notable names reporting earnings.

PSUN is down -6.2% and PAY is up +1.9% following their earnings release.

We have now had four straight down sessions for a cumulative loss of 3.9%.

Lame existing home sales figures for July only added negativity to the economic outlook.

Futures edged lower after hours with S&P 500 futures -1.52 points from fair value of 1050.22 and Nasdaq 100 futures -0.53 points from fair value of 1772.53.

Eight of ten sectors were in negative territory, led by materials (-2.3%), industrials (-2.0%) and health care (-2.0%).

Tomorrow morning there is one economic report scheduled to be released, with two pieces of data, before the open: Durable Goods (Consensus 3.0%) and 2) Durable Goods — ex transportation (Consensus 0.5%).

Tomorrow before the open look for the following companies to report: AEO, BWS,CWTR, ITRN, OSIS, PERY, SYNO and TOL.

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