Market Close for Tuesday, October 12, 2010

After the close…

We have INTC +1.1% following earnings/guidance results.

Stocks were quick to recover from an early slide then the broader market stagnated near the neutral line until word of possible quantitative easing (whatever that is) pushed stocks into positive ground for a solid finish.

After the close INTC and CSX were the notable names to report earnings after the close.

Futures are higher after hours with S&P 500 futures up +0.43 from fair value of 1165.87 and Nasdaq100 futures +0.47 points from fair value of 2039.28.

Seven of the sectors were in positive territory, led by financials (+1.3%), tech (+0.7%) and consumer staples (+0.3%).

Tomorrow morning before the open we have two economic reports scheduled to be released: 1) MBA Mortgage Application (Consensus NA) and 2) Export prices ex-ag (Consensus NA) and Import prices ex-oil (Consensus NA).

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