DJIA / Market Close for Wednesday, June 15, 2011

After the close…

We have FNSR down -12.0% following its earnings report and guidance.

Aggressive selling dropped stocks to a new three-month low. In turn, the S&P 500 is now within close contact of its 200-day moving average and down about 8% from the three-year high that it set in May.

After the close, notable stocks reporting earnings include CWST and FNSR.

Futures are slightly higher after hours with S&P 500 futures up +0.12 from fair value of 1259.78 and Nasdaq 100 futures up +0.60 from fair value of 2205.40.

Tomorrow before the open, there are two economic reports scheduled to be released: 1) Initial claims (Consensus 421K) and Continuing claims (Consensus 3690K) and 2) Housing starts (Consensus 540K) and Building permits (Consensus 548K).

Also tomorrow before the open, we have nothing worthy expected to report earnings.

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