DJIA / Market Close for Wednesday, September 28, 2011

After the close…

We have MOS down -0.5% following their earnings report and guidance.

Stocks got a bid in the early going, but a lack of leadership invited selling pressure, which accelerated in afternoon action, leaving stocks to settle at session lows with sizable losses.

After the close, notable stocks reporting earnings include THO, WOR, MOS and TXI.

Futures are higher after hours with S&P 500 futures up +1.8 from fair value of 1145.22 and Nasdaq 100 futures up +0.04 from fair value of 2215.66.

Tomorrow before the open, there are two economic reports scheduled to be released: 1) Initial claims (Consensus 419K) and Continuing claims (Consensus 3715K); 2) GDP — Third estimate (Consensus 1.2%) and GDP Deflator — Third estimate (Consensus 2.4%).

Also tomorrow before the open, notable stocks expected to report earnings include AZZ, DMAN, MU, and XRTX.

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