Market Close for Monday, December 27, 2010

After the close…

We now know that DRC received orders to supply $250 million worth of equipment (advanced turbo-machinery for five major offshore projects).

The Dow closed in the red, however, the S&P 500 and the Nasdaq Composite managed fractional gains after participants initially reacted negatively to news of a rate hike in China.

There were not any notable stocks reporting earnings after the close today.

Futures were trading higher in after hours with S&P 500 futures up +0.84 from fair value of 1252.66 and Nasdaq 100 futures up +1.8 points from fair value of 2228.20.

Four of ten sectors were in positive territory, led by financials (+1.0%), and four sectors were in negative territory, led by energy (-0.4%) and consumer staples (-0.4%). Utilities and materials ended unchanged for the session.

Tomorrow before the open we have one economic report scheduled to be released, the Case-Shiller 20-city Index (Consensus 0.1%).

Also tomorrow morning, there are no notable stocks scheduled to report.

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