Market Close for Wednesday, January 19, 2011

After the close…

We have FFIV down -22.8% and EBAY up +2.7% following their earnings reports.

The S&P 500 and the Nasdaq Composite made their worst single-session losses in almost two months, however the Dow finished only fractionally lower via support from IBM. After the close, notable stocks reporting earnings include EBAY, FFIV, XLNX, PLXS, RJF, CCG, CVBF, KMP, SLM, and STX.

Futures are lower after hour with S&P 500 futures down -0.16 from fair value of 1278.16 and Nasdaq 100 futures down -8.03 points from fair value of 2310.53.

All ten sectors were in negative territory, led by materials (-2.2%), financials (-2.2%) and industrials (-1.0%).

Tomorrow before the open we have one economic report scheduled to be released: 1) Initial Claims (Consensus 425K) and Continuing Claims (Consensus 3900K).

Also tomorrow before the open, notable stocks expected to report earnings include FCS, FITB, FCX, GMT, HOMB, HBAN, ESI, JCI, KCG, MI, MS, PH, PNC, PPG, PGR, COL, LUV, TCB, TEL, UNP, and UNH.

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