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Conference calls are often impacted by market trends, geopolitical conditions, news coming from conferences and economic releases.
Bad History Making (By Genevieve Hawkins) Wall Street suffered its worst weekly decline in history as panicked central banks did nothing that calmed investors. A historic $700 billion bailout plan, then a historic injection of liquidity, then a historic coordinated central bank interest rate cut did nothing to stanch the losses last week, which amounted to 19.5% for both the Dow and the S&P 500 and 16.2% for the Nasdaq. The world may never be the same following the staggering drops, but the real issue for the coming week is whether there will be more cataclysmic selloffs or whether a Fed rescue plan actually works or starts working. Remaining market investors may be closely eying the trickling of third quarter earnings that will begin to come in, looking for clues in whom to invest now that a global recession is being priced into the mix. Market followers may also be reviewing the consumer and producer price indexes for inflation data, though both may come in with tame measures due to the recent drop in the price of crude oil. Bargain hunters may begin buying select stocks, and a rebound after such a sharp fall is certainly possible. Then again Dow 7,000 is also possible in a few more days, if the selling pressure remains so sustained. Now might not be the time to bring money back into the fray, until the current mess is a little better sorted out. But provided there is not a complete systematic collapse, the story may end the same way it always does ' with lots of herd investors buying high and selling low.
The Investrend Earnings Calendar features Fastenal Corp. (NASDAQ: FAST), expected at $0.515; KMG Chemicals (NYSE: KMG), expected at $0.17; Stanley Furnitue (NASDAQ: STLY), expected at $-0.06. The market will also be watching the Investrend Money Index Most Actives Wachovia Cp (NYSE: WB) up 43.06%.
The Investrend Economics Calendar lists Columbus Day Holiday - Bond Market Closed, Stocks & Futures Open.
The Investrend Events Calendar showcases ARNA, VPHM, CYTR, ATSI, SOMX, EPIX, ARAY at Natixis Bleichroeder Hidden Gems Conf; JASO at Solar Power International Conf.
The Investrend Money Index is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE/NASDAQ 50 Most Actives indicate the direction in which the mass of money is flowing. Last session's trading showed 17 advancers versus 33 decliners. Advancers were led by Wachovia Cp (NYSE: WB) up 43.06%, Ml Co Cmn Stk (NYSE: MER) up 18.24%, Jp Morgan Chase Co (NYSE: JPM) up 13.52%, Gen Electric Co (NYSE: GE) up 13.10%, Charles Schwab Inc (NASDAQ: SCHW) up 10.68%, Citigroup Inc (NYSE: C) up 9.13%, Apple Inc (NASDAQ: AAPL) up 9.08%, Fannie Mae (NYSE: FNM) up 6.93%, Fifth Third Bncp (NASDAQ: FITB) up 6.89%, Bk Of America Cp (NYSE: BAC) up 6.32%. Decliners followed Morgan Stanley (NYSE: MS) down 22.25%, Boston Scientific Cp (NYSE: BSX) down 12.87%, Goldman Sachs Grp (NYSE: GS) down 12.38%, Time Warner Inc (NYSE: TWX) down 8.92%, Exxon Mobil Cp (NYSE: XOM) down 8.29%, Sun Microsystems Inc (NASDAQ: JAVA) down 7.87%, Natl City Cp (NYSE: NCC) down 6.98%, Chesapeake Energy Cp (NYSE: CHK) down 6.72%, Gilead Sciences (NASDAQ: GILD) down 6.42%, Research In Motion (NASDAQ: RIMM) down 6.35%, Comcast Cl A Spcl (NASDAQ: CMCSK) down 6.17%.
Vote in the Investrend Poll Question of the Day at Investrend Information (http://www.investrendinformation.com).
Investrend Website of the Day: http://soundboard.com/index.aspx
Quote of the Day: "Being powerful is like being a lady. If you have to tell people you are, you aren't." Margaret Thatcher
Today is: Navy Day, Columbus Day.
Happy Birthday: Art Tatum, Herbert Block, Burr Tillstrom, Nipsey Russell, Lenny Bruce, Margaret Thatcher, Paul Simon, Sammy Hagar, Ian Thorpe.
Today in History: The United States Navy was formed in 1775. In New York City, Henry Jones and 11 others founded B'nai B'rith in 1843. A majority of voters in the Republic of Texas approved in 1845 a proposed constitution, that if accepted by the U.S. Congress, would make Texas a U.S. state. Ankara replaced Constantinople as the capital of Turkey in 1923. Baseballer Bill Mazeroski, in 1960, became the first person to end a World Series with a home run.
[FirstAlert" was created by Gayle Essary, founder of Investrend Communications, Inc., parent of Investrend Information (http://www.investrendinformation.com). The opinions expressed in FirstAlert" do not necessarily reflect the opinions of Investrend.]
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