Thursday, July 22, 2010

Market news for July 22nd

Initial Jobless claims rose to 464K claims, which was worse than the 445K expected. However, Continuing claims dropped to 4.487 Million from 4.710 Million the prior week. In spite of the increase in Jobless Claims the market seems to be shrugging the news of as the Dow Futures stand at +100 an hour before the open.

Existing Home Sales numbers come out at 7:00am PST, 10:00am EST, but I won't be here to post the numbers. I will upon my return later today along with comments about the market. Also, Leading Indicators are also reported at that hour and those too will be reported here below, in the form of an Update.

Yesterday, E-Bay announced it beat earnings for the last quarter. Congrats to CEO, John Donahoe. WellsFargo Bank also reprted better than expected earnings.

Thanks for stopping by.

UPDATE: 7:02am PST

Leading Economic indicators were down-0.2% from being up 0.5% the previous month. Expectations were for the indicator to be down -0.4%. The Dow now up 207 for the morning. It rose about 30 in the last 2 minutes.

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