Email Campaign Archive

1. OUTLOOK:
Stocks rallied, after the government reported a bigger-than-expected drop in jobless claims, and a number of retailers reported improved October sales. The positive tone among this session’s participants was also helped by news that third quarter nonfarm productivity surged 9.5% in its preliminary report (better than the 6.5% increase expected). All 10 major sectors finished the session with a gain. Only consumer staples failed to gain more than 1%. Insurers also lagged as Allstate missed the consensus earnings estimate, but Prudential actually posted a positive earnings surprise. Despite their weakness, financials still advanced 2.5%. Consumer discretionary sector had a better gain, advancing 2.6% in the face of mixed monthly same-store sales results from retailers. Tech stocks added to gains as the strength in Cisco and Qualcomm helped power a rally across the sector. Market breadth was positive. Several reports were expected after the market close. Nvidia reported surprisingly high earnings ($0.19 a share vs. $0.10 a share estimated) and jumped 6%. Starbucks rose 3.8%, advancing after the upbeat report ($0.24 a share vs. $0.21 a share estimated). Fannie Mae fell 11% after the co. requested for an additional $15 billion to eliminate net worth deficit.
BREAKING NEWS: The U.S. unemployment rate climbed to 10.2% in October, topping the 10% mark for the first time in 26 years, the Labor Department reported Friday. Nonfarm payrolls dropped by 190,000 in October, bringing to total number of jobs lost in the recession to 7.3 million.

2. REAL-TIME ACTIONABLE INSIGHTS (click to open in separate window)
3. WISDOM NUGGETS:
Bottoms take longer to shape than tops. Greed acts more quickly than fear and pushes stocks to drop from their own weight.

4. RECENT TRADES: None

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