Automakers Death Fight, Stocks Up, Hewlett-Packard Surges

By | TradingMarkets.com | November 18, 2008 05:10 PM
Symbols: HPQ, RIMM, CIT, NOV, CQB

Stocks closed up today on the heals of a strong 4th quarter from Hewlett-Packard while being offset by an auto industry locked in a life and death struggle for aid from the U.S Government. The DJIA added +151.17 to 8424.75, the Nasdaq rose +1.22 to 1483.27 and the S&P 500 jumped +8.37 to 859.12.



Chiquita Brands ( CQB | Quote | Chart | News | PowerRating) - Climbed 19.61% or $1.81 to $11.04/share when the famous banana company was upgraded to a buy by BB&T Capital Markets.


CIT Group ( CIT | Quote | Chart | News | PowerRating) - The largest US based commercial lender fell 26.07% or 0.91 cents to $2.58/share after Barclay's cut its share price estimate.


Hewlett-Packard ( HPQ | Quote | Chart | News | PowerRating) - Led the S&P 500 higher surging 14.45% or $4.24 to $33.58/share after beating analyst's estimates for the 4th quarter.


Research In Motion ( RIMM | Quote | Chart | News | PowerRating) - Advanced 11.91% or $5.03 to $47.27/share after Scotia Capital stated that sentiment is "unrealistically dour".


Gold fell $9.30 to $732.70 and oil slipped 0.56 cents to $54.65.










Market Snapshot
















Dow

 +151.17 8424.75








NASDAQ

 +1.22 1483.27






S&P 500

 +8.37 859.12












Economic
News










NY Empire State Index (Nov): Consensus -26.0, Prior -24.6


Capacity Utilization (Oct): Consensus 76.5%, Prior 76.4%


Industrial Production (Oct): Consensus 0.2%, Prior -2.8%


Core PPI (Oct): Consensus 0.1%, Prior 0.4%


PPI (Oct): Consensus -1.8%, Prior -0.4%


Net Foreign Purchases (Sep): Consensus $17.5B, Prior $14.0B


Building Permits (Oct): Consensus 772K, Prior 786K


Core CPI (Oct): Consensus 0.1%, Prior 0.1%


CPI (Oct): Consensus -0.8%, Prior 0.0%


Housing Starts (Oct): Consensus 780K, Prior 817K


FOMC Minutes (Oct 29): Consensus N/A, Prior N/A


Initial Claims (Nov 15): Consensus 503K, Prior 516K


Leading Indicators (Oct): Consensus -0.6%, Prior 0.3%


Philadelphia Fed (Nov): Consensus -35.0, Prior -37.5

Win up to $10,000 predicting the direction of a stock!



Read David's latest thoughts on his blog, www.marketsurfer.com
Original publication: November 18, 2008
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