DJIA / Market Close for Wednesday, August 31, 2011

After the close…

We have NVLS down -1.3% following a mid-quarter update, SAI -7.9% and CWTR down -12.3% following their earnings reports and guidance.

The Dow closed up 53.58 (+0.46%) at 11,613.53.

The major equity averages were up more than 1% this morning, but afternoon selling caused the market to falter a bit. Still, stocks managed to hold on for gains.

After the close, notable stoccks reporting earnings include DVOX, ZUMZ, CWTR, COO, SAI, OXM, GEF and SHFL.

Futures are higher after hours with S&P 500 futures up +0.58 from fair value of 1217.82 and Nasdaq 100 futures up +3.88 from fair value of 2240.62.

Tomorrow before the open, there are two economic reports scheduled to be released: Initial Claims (Consensus 407K) and Continuing Claims (Consensus 3630K) and 2) Productivity — Rev. (Consensus -0.5%) and Unit Labor Costs — Rev. (Consensus 2.4%).

Also tomorrow before the open, notabe stocks expected to report earnings include CHRS, CIEN, MPR, MEI, MOV, and UTIW.

PSVIX closed today at 30.04 and is back in positive territory for the year (just over +0.5%).

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