Market Close for Tuesday, November 30, 2010

Sorry for no closing reports last week (and Monday this week). Here in Northwest Washington many of us were without power for days (me). It’s back on now though and I have got caught up on things. I’m just hoping that this latest wind/snow storn managed to take out all the weak spots so that we will not have more power outages this winter (probably not). Anyhow.

After the close…

We have OVTI +4.8% and CPRT +1.6% following earnings reports.

Markets were down for the second straight day today and stocks failed to finish near their highs for the day.

Things are looking perilous, but still not over the edge (for ^SML anyway). I’m still holding out for a up finish to 2010. Followed by a selloff. Just my thoughts.

Notable stocks reporting earnings after the close include OVTI, CPRT, UTI and NCTY.

Futures are lower after hours with S&P 500 futures down -1.03 from fair value of 1179.53 and Nasdaq100 futures down -1.72 points from fair value of 2116.97.

Eight of the ten sectors were in negative territory, led by tech (-1.4%), health care (-0.8%) and financials (-0.7%).

Tomorrow before the open we have four economic reports scheduled to be released: 1) MBA Mortgage Applications (Consensus NA), 2) Challeger Job Cuts (Consensus NA), 3) ADP Employment Report (Consensus 58K) and 4) Productivity-Rev (Consensus 2.4%) and Unit Labor Costs (Consensus -0.5%).

Also tomorrow before the open the following notable stocks are expected toreport earnings: APWR, CHRS, SCMR, and SYNO.

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