Stock Market News Review 09-10-10

Morning Greek
Greek Factor: 0

This morning's stock market news review highlights pending events more than the premarket wire, so you had some time to sleep in this morning. We suspect you'll be leaving the office early as well, given a slow moving news day. That said, look for President Obama's 11 AM ET news conference to play a big role in the direction of pundit play and stock trader way. We have Wholesale Trade data due at 10 AM. China reported stronger imports and slower export growth, which plays mixed across the world. Meanwhile, the BOJ published what seems to us like favorable meeting minutes. However, Canada reported a higher unemployment rate, and do please take note of the dumbest thing Canada ever did, reported by us below. We look forward to your comments dear neighbors to the north. The "Greek Factor" ranges from +3 to -3, and is a subjective measure of The Greek's view of the market impact of individual and aggregate news and the day's scheduled events.


Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

(Tickers: NYSE: UBS, Nasdaq: CHRW, NYSE: DB, NYSE: SAP, NYSE: ABB, NYSE: BRC, NYSE: CO, Nasdaq: ACET, Nasdaq: AEPI, Nasdaq: DUCK, Nasdaq: LULU, Nasdaq: GROW, NYSE: DIA, NYSE: SPY, Nasdaq: QQQQ, NYSE: DOG, NYSE: SDS, NYSE: QLD, NYSE: NYX, NYSE: ICE, Nasdaq: NDAQ, Nasdaq: ASIA, Nasdaq: PRASX, NYSE: PUA, NYSE: NWD, Nasdaq: MEAFX, Nasdaq: EBASX, Nasdaq: EVASX, Nasdaq: SOLF, Nasdaq: CSUN, Nasdaq: BIDU)

Stock Market News Review

School's out for the Jewish holiday, and we expect many are missing summer already, so with a slow news schedule, look for the early exodus Friday afternoon. Light trading should dominate, as long as no nostalgic terrorist gets any bright ideas related to this time of year. Remember folks, that should some sort of terrorism occur, to take a step back and really reflect on the longer term impact of the event. This is why, oftentimes, event triggered panic sell-offs are followed by sharp spikes. Seasoned and champion investors recommend keeping your heads in time of panic, and containing your emotions with regards to your portfolio. Enjoy our stock market news review...

President's News Conference
Greek Factor: 0

President Obama will hold a news conference on the economy today. This seems to be a regular event these days, but truth be told, the President has not held a news conference in quite some time. Look for the Prez at 11:00 AM. It's too hard to say what will come of this press conference, but past events seem to point toward popular opinion losing confidence in the ability of government agencies (i.e. the Federal Reserve) and the government generally in having any impact on this troubled economy. We'll give the President the benefit of the doubt this morning though, since he's had all week to tweak his latest economic gameplan. Still, that leaves us with a neutral Greek Factor to trade impact.

Oh Canada!
Greek Factor: -1

Canada reported its unemployment rate rose to 8.1% in August, up from 8% previously. Have you seen the dumbest idea Canada ever came up with? Just follow our link, and God help drivers in the great white north. I swear the air must be thinner up there.

Wholesale Trade
Greek Factor: Likely -1

Wholesale Trade data comes due for the month of July at 10:00 AM. Inventories are expected to have increased by 0.4%, according to Barron's. I'm not so sure though. Wholesale inventories inched higher 0.1% in June, and we expect by August we’ll see a decrease. Unfortunately for wholesalers, while inventories increased in June, sales fell 0.7%, taking the inventory-to-sales ratio up to 1.15, from May;s 1.14. Still the ratio sits at historically optimal levels, and compares against last year's 1.3 mark in a troubled market.

China Data
Greek Factor: +1

China's trade surplus narrowed in August by more than $8 billion. Imports jumped 35.2% over August 2009, enthusing those with hopes tied to the Asian giant; import growth matched against a 22.7% rise in July. Exports rose 34.4%, slowing from 38.1% in July. That domestic demand apparent in China's data is definitely a positive factor for US trade, but the drop in the pace of exports leads us to wonder about the state of demand from Europe and the US. Net net, we have to give this a positive factor rating though.

BOJ Bore
Greek Factor: +1

The Bank of Japan released the meeting minutes from its August 9-10 meeting; considering a heightening level of panic in Japan, this might make for interesting beach reading for Asia-Pac investors. Do ya think? I'll be reading Barron's and The Orthodox Way. You'll forgive me for not having read the BOJ report yet, however, we've assigned a Greek Factor rating based on trading in the NIKKEI 225 Friday, which was up 1.55%, while the rest of Asia and Europe looks mixed to lower. So, we suspect the interesting meeting minutes or other data out of Japan proved positive, at least for Japan. Thus, our "Greek Factor" here is for Japanese traders, not US blue coats.

Corporate Wire

The UBS (NYSE: UBS) Best of America's Conference highlights the presentation of C.H. Robinson Worldwide (Nasdaq: CHRW). Deutsche Bank (NYSE: DB) holds its European Technology, Media and Telecommunications Conference, which highlights the presentation of SAP AG (NYSE: SAP) Friday. Also catch ABB's (NYSE: ABB) meeting with investors. Look for EPS from Brady Corp. (NYSE: BRC), China Cord Blood (NYSE: CO), Aceto (Nasdaq: ACET), AEP Industries (Nasdaq: AEPI), Duckwall-ALCO (Nasdaq: DUCK), lululemon (Nasdaq: LULU) and US Global Investors (Nasdaq: GROW).



Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.