DJIA / Market Close for Tuesday, August 23, 2011

After the close…

We have LZB down -13.2% and GAME +6.2% following their earnings reports and guidance.

The Dow added +322.11 (+2.97%) to close at 11,176.76.

The stock market slipped to the neutral line in the early going, but then climbed steadily to finish at a session high with a gain of more than 3%.

After the close, notable stocks reporting earnings include HAIN, GSM, AVGO, DY, PSUN, GAME and LZB.

Futures are lower after hours with S&P 500 futures down -0.17 from fair value of 1160.37 and Nasdaq 100 futures down -2.58 from fair value of 2128.28.

Tomorrow before the open, there are two economic reports scheduled to be released: 1) MBA Mortgage Index (Consensus NA) and 2) Durable orders (Consensus 1.9%) and Durable orders- ex Transportation (Consensus -0.5%).

Also tomorrow before the open, notable stocks expected to report earnings include AEO, SYNO, and TOL.

My favorite mutual fund, PSVIX, tacked on +0.95 (+3.47%) to close at 28.35. The Russell 2000 gained +4.87%.

The markets seem to be bottoming now and I expect to go higher in September.

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