Wednesday, April 18, 2007

Pre Market

The Asian indices are mostly green while Europe is almost completely red.


Motorola posts Q1 loss and first sales decline in 4 years.

JP Morgan posts record profit due to M&A and underwriting activity.

Yahoo share price plunges as Q1 earnings lower than expected.

IBM posts higher earnings that are inline with analyst expectations.

Massive Blackberry failure across Western hemisphere leads to drop in Research in Motion stock price.

Fannie Mae and Freddie Mac creating new loan programs to save subprime customers. What next ? 100 yr fixed mortgages .

Oil prices decline below $63 as crude supply builds.

The futures are indicating a lower open for the major indices. While today seems an appropriate day for some profit taking ahead of tomorrows important economic data releases, I would not rule out another rally which takes us to record highs on the Dow considering we are only 20 points away.

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