DJIA / Market Close for Tuesday, August 16, 2011

After the close…

We have Dell falling -6% following their earnings report.

The Dow closed down -76.97 (-0.67%) at 11,405.93.

Although it fought to finish above its low, the stock market still logged a 1% loss in response to reminders that the global economy remains challenged and that there aren’t any new plans to address the weakness.

After the close, notable stocks reporting earnings include JKHY, SVN, FMD, PLAB, ADI, DELL, JMBA, BCSI, CCSC, BOBE, TAOM and SKUL.

Futures are higher after hours with S&P 500 futures up +0.99 from fair value of 1190.41 and Nasdaq 100 futures up +4.42 from fair value of 2193.28.

Tomorrow before the open, there are two economic reports scheduled to be released: 1) MBA Mortgage Index (Consensus NA) and 2) PPI (Consensus 0.0%) and Core PPI (Consensus 0.2%).

Also tomorrow before the open, notable stocks expected to report earnings include ANF, AMAP, CSIQ, CHS, CTRN, DE, EJ, EV, FLO, ISS, SPLS, TGT, and XUE.

Hopefully today will just be a pause in the rally.

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