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Stocks sank on Wednesday, closing at their lows, with the S&P 500 closing below its 200-day moving average. The Dow made a three-month low. Breadth was negative. Crude was no help to the market, closing at $62.79, down 1.11.
The S&P 500 is off almost 3% in the first three
days of Q3.
Cyclicals and basic materials were weak as copper prices made all time highs.
General Electric (GE | Quote | Chart | News | PowerRating) made a 52-week low.
Now, here are a few stocks to watch on Thursday:
American Eagle's (AEOS | Quote | Chart | News | PowerRating) same store sales rose more than expected.
Costco (COST | Quote | Chart | News | PowerRating) reports earnings at 11 AM. Look for 0.64.
If the market happens to rally on Thursday, ExxonMobil (XOM | Quote | Chart | News | PowerRating) may benefit--it's oversold.
Starbucks' (SBUX | Quote | Chart | News | PowerRating) same store sales rose more than expected.
ATI Technologies (ATYT | Quote | Chart | News | PowerRating) reports on Thursday--look for -0.30.
Look for Marriot (MAR | Quote | Chart | News | PowerRating) to report 0.64.
Schnitzer Steel (SCHN | Quote | Chart | News | PowerRating) also reports; the estimate is 0.85.
Brice Wightman
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