Wednesday, May 16, 2007

Pre Market

The markets in Asia are strong with China up over 2%. Europe is a mixed bag.

Stocks In Play

Earnings Announcements

Sony posts its worst quarterly loss in 4 years but expects a recovery. The PS3 is being schooled by the WII. Nintendo is the video game consule maker play here.

Industrial Production numbers are out today. A hot number may indicate inflationary pressures while conversely a weak number signals economic retraction. The bulls prefer a weak number. Anything that increases the likelyhood of Fed rate cuts.

An unexpected rise in new home starts though building permits have dropped to their lowest levels since June 1997. It continues to get worse for housing.

Pre market futures are indicating a positive open to the market. Will the Dow continue its record setting ways ?

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