Market Close for Tuesday 08/10/10

After the close…

We have after the close earnings reports from AONE, CREE, DIS, FNGN and SPWRA.

There were notable earnings reactions from CREE -8.7%, DIS +1.2% and SPWRA +2.8%.

There was a positive response to the latest FOMC policy statement, however stocks still finished with varied losses.

Futures are mixed after hours with S&P 500 futures 0.45 points above fair value of 1118.36 and Nasdaq 100 futures 1.91 points below fair value of 1898.41.

Today, six of the ten sectors were in negative territory, led by tech (-1.2%), financials (-1.0%) and materials (-1.0%), while telecom (+0.4%), utilities (+0.4%) and consumer staples (+0.3%) were in positive territory.

Tomorrow morning, one economic report is scheduled to be released before the open including: 1) Trade Balance (Consensus -$42.2 bln).

Also tomorrow, before the open, look for the following companies to reports: GU, LCRY, AVT, IAG, SUP, MFB, SUSS, WWIN, CEU, KELYA, M, CAE, EJ and CSC.

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