Market Close for Thursday 08/12/10


After the close…

After reporting earnings we have the following reactions: NVDA +3.2%, ADSK +3.6%, JWN -4.3% So far the week-to-date stock market loss is almost 4%. A ugly jobless claims report hs sent stocks on their third straight slide. Futures are lower after hours with S&P 500 futures 1.62 points below fair value of 1081.52 and Nasdaq 100 futures 2.32 points below fair value of 1831.32.

Six of the ten sectors were in negative territory, led by tech (-1.7%), industrials (-0.8%) and financials (-0.6%), while telecom (+0.9) and health care (+0.4%) were higher.

Tomorrow morning, four economic reports are scheduled to be released before the open including: 1) CPI (Consensus 0.2%), 2) Core CPI (Consensus 0.1%), 3) Retail Sales (Consensus 0.5%) and 4) Retail Sales ex-auto (Consensus 0.2%).

Tomorrow before the open look for the following companies to report: ADES, CPC, CTFO, and JCP.

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