1:30pm (EST)
The market is slightly lower today but has come off its worst levels of the session as Wall Street is carefully watching Treasury Secretary Timothy Geithner. He is testifying before the House Committee on Oversight and Government Reform today and has seemed calm for the most part answering questions.
Of course, he is there to answers questions on his involvement in the bailout of AIG (AIG, $24.10, down $0.30). For the record, he has denied knowing details of payments to any banks including Goldman Sachs (GS, $148.34, down $2.44) which continues to slide…
As a result, the Dow is currently down 39 points to 10,155 while the S&P 500 is off by 4 points to 1,088. The Nasdaq is lower by 2 points and is at 2,202.
As far as economic news, December new home sales came in at 342,000 units sold versus the expected 366,000. At 2:15pm (EST) today the Fed will release its latest policy statement.
There are plenty of earnings to report but one company we are watching after the bell is Netflix (NFLX, $50.05, up $0.10). Wall Street is expecting the company to earn 45 cents on revenue of $445 million.
We expect the company to surpass 12 million customers and report a great quarter. Netflix has been in a downtrend since topping out at $60 in November and the options market is pricing in a 10% move for the stock.
We will be back in the morning with our regular update and we are expecting a bounce over the next two days for the market. Tonight President Obama delivers his State of the Union message and you can bet the market will react accordingly on Thursday.
Tags: option picks, option signals, options alerts, stock options trading
This entry was posted
on Wednesday, January 27th, 2010 at 1:28 PM and is filed under Company Commentary, Market Commentary.
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“Timmy” Takes The Stand
1:30pm (EST)
The market is slightly lower today but has come off its worst levels of the session as Wall Street is carefully watching Treasury Secretary Timothy Geithner. He is testifying before the House Committee on Oversight and Government Reform today and has seemed calm for the most part answering questions.
Of course, he is there to answers questions on his involvement in the bailout of AIG (AIG, $24.10, down $0.30). For the record, he has denied knowing details of payments to any banks including Goldman Sachs (GS, $148.34, down $2.44) which continues to slide…
As a result, the Dow is currently down 39 points to 10,155 while the S&P 500 is off by 4 points to 1,088. The Nasdaq is lower by 2 points and is at 2,202.
As far as economic news, December new home sales came in at 342,000 units sold versus the expected 366,000. At 2:15pm (EST) today the Fed will release its latest policy statement.
There are plenty of earnings to report but one company we are watching after the bell is Netflix (NFLX, $50.05, up $0.10). Wall Street is expecting the company to earn 45 cents on revenue of $445 million.
We expect the company to surpass 12 million customers and report a great quarter. Netflix has been in a downtrend since topping out at $60 in November and the options market is pricing in a 10% move for the stock.
We will be back in the morning with our regular update and we are expecting a bounce over the next two days for the market. Tonight President Obama delivers his State of the Union message and you can bet the market will react accordingly on Thursday.
Tags: option picks, option signals, options alerts, stock options trading
This entry was posted on Wednesday, January 27th, 2010 at 1:28 PM and is filed under Company Commentary, Market Commentary. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.