Market Close for Monday, September 20, 2010

After the close

HPQ and Hurd Settle Lawsuit – HPQ reaffirmed their long-term strategic partnership and the resolution of litigation regarding Mark V. Hurd’s employment at Oracle (ORCL).

The S&P 500 pushed through technical resistance today to set a fresh four-month high on Monday. There were no catalysts or headlines to account for the climb, only a bullish bias among market participants.

After hours, HPQ reaffirmed their long-term strategic partnership and the resolution of litigation regarding Mark V. Hurd’s employment at Oracle – ORCL.

Futures are lower after hours with S&P 500 futures down -1.18 from fair value of 1137.78 and Nasdaq 100 futures -5.47 points from fair value of 1987.22.

All ten sectors were in positive territory, led by financials (+2.0%), consumer discretionary (+1.9%) and energy (+1.7%).

Tomorrow before the open we have two economic reports scheduled to be released: 1) Housing Starts (Consensus 550K) and Building Permits (Consensus 560K). Also look for the following companies to report earnings: AZO, CCL, CAG, and FDS.

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