Stocks edged higher on Tuesday as profit-taking in overbought financial shares blunted buying in areas such as consumer staples and health care.
The Dow ended the day up 19.43. The Nasdaq Composite added 8.12. And the S&P 500 gained 1.87.
Here are 7 Stocks You Need to Know for Wednesday.
On the back of rising optimism toward the housing sector, Toll Brothers ( TOL | Quote | Chart | News | PowerRating) will be announcing quarterly earnings Wednesday morning before the market opens. Analysts are expecting an EPS loss of 40 cents. TOLL was up more than 3% on Tuesday and is increasingly overbought below the 200-day moving average.
Morgan Stanley ( MS | Quote | Chart | News | PowerRating) is seeking to raise more than $2 billion in common stock as it readies repayment of TARP funds. Morgan Stanley joins American Express and JP Morgan Chase in using new equity to retire TARP borrowings.
For its part, Bank of America ( BAC | Quote | Chart | News | PowerRating) said on Tuesday that it would likely exceed its capital target of $33.9 billion.
Android, the operating system developed by Google ( GOOG | Quote | Chart | News | PowerRating), will be default operating system on a line of notebook computers from Acer. Google shares closed higher for a fourth day in a row above the 200-day moving average on Tuesday.
Reporting quarterly earnings during market hours on Wednesday is retailer Jos. A Bank Clothiers ( JOSB | Quote | Chart | News | PowerRating). Per share earnings of 58 cents is what analysts are expecting from JOSB.
Ford Motor Company ( F | Quote | Chart | News | PowerRating) continues to benefit from the troubled times over at General Motors ( GM | Quote | Chart | News | PowerRating), gaining on Tuesday despite reporting a sales slowdown. Shares were up more than 4% and rallied for a fourth day in a row above the 200-day moving average.
Avoid single stock volatility and learn to trade ETFs. Click here to order High Probability ETF Trading and get quantified trading strategies for one of the fastest growing financial vehicles.
Want updates on our latest articles? Have something to say to David Penn or the staff at TradingMarkets? Follow David on Twitter at @Penn_TM and TradingMarkets at @Trading_Markets.
