DJIA / Market Close for Wednesday, March 16, 2011

After the close…

We have GES down -1.6% following their earnings report and guidance while GMR is down -10.4% by delaying results.

Markets are at a new low for 2011. Although the market worked higher from the low, it still suffered its seventh loss in nine sessions.

After the close, notable stocks reporting earnings include AXAS, CLC, DPTR, FTK, GES, GMR, HRBN, JRJC, MDVN, MLHR and PEGA.

Futures are higher after hours with S&P 500 futures up +2.75 from fair value of 1254.40 and Nasdaq 100 futures up +9.43 points from fair value of 2200.32.

Tomorrow before the open we have two economic reports scheduled to be released: 1) Initial claims (Consensus 386K) and Continuing claims (Consensus 3750K) and 2) CPI (Consensus 0.4%) and Core CPI (Consensus 0.2).

Also tomorrow before the open, notable stocks expected to report earnings include ATU, CATO, CHINA, CDCS, CVVT, FDX, GSOL, LULU, MPR, ROST, SOLF, and WGO.

Note: On CNBC right now, the NIKKEI is down over 4% in early trading (5:20 pm PDT). My thoughts only: One of the six troubled nuclear plants is going to melt-down.

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