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The Wall Street Greek blog is the sexy & syndicated financial securities markets publication of former Senior Equity Analyst Markos N. Kaminis. Our stock market blog reaches reputable publishers & private networks and is an unbiased, independent Wall Street research resource on the economy, stocks, gold & currency, energy & oil, real estate and more. Wall Street & Greece should be as honest, dependable and passionate as The Greek.


Seeking Alpha

Wednesday, August 07, 2013

Fed Poops on Stocks

The Fed
It was not supposed to be the case, given the light economic report schedule this week, but markets moved in lockstep Tuesday on a broad reaching economic driver nonetheless. What we failed to account for in our weekly copy was the fact that all the Fed’s men would be speaking this week. Tuesday, Dennis Lockhart and Charles Evans spooked stocks when they indicated the Fed would probably begin tapering its asset purchase program in September. At least I was right about one thing though; the height of the summer season finally affected trading volume, with the last two days being two of the slowest trading days of the year. Visit our stock market blog daily for regular insight.

Fed Fizzle


Market ETF
August 6, 2013
Year-to-Date
SPDR S&P 500 (SPY)
-0.6%
+19.2%
SPDR Dow Jones (DIA)
-0.6%
+18.6%
PowerShares (QQQ)
-0.6%
+17.5%

Another factor that may be at play counter to stocks may be the global terror threat the government is chirping about. We here are not sure there’s any difference between the current issue versus all other times over the last decade and a half that high ranking (now dead) al Qaeda representatives have called for jihad against the west. Rather, I intimate that perhaps the guys in Washington want to remind America why they once approved of big brother’s watching eye.

Economic Events

ECONOMIC REPORT SCHEDULE

Economic Data Point
Prior Period
Expected
Actual
TUESDAY



-$44.1 B (R)
-$43.0 B
-$34.2 B
-8

-12
-1.6%

+0.3%
3.907 M (R)
3.85 M
3.936 M
MONDAY



$90

$89
52.2
53.0
56.0
5.15

4.87
 *R symbolizes “revised”

Besides the Fed speak, we saw the trade deficit narrow sharply, which increases the possibility of a Q2 GDP revision upward.

Overseas Markets

EUROPE
CLOSE
ASIA/PACIFIC
CLOSE
EURO STOXX 50
-0.6%
NIKKEI 225
+1.0%
German DAX
-1.2%
Hang Seng
-1.3%
CAC 40
-0.4%
S&P/ASX 200
-0.1%
FTSE 100
-0.2%
Korean KOSPI
-0.5%
Bloomberg GCC 200
+0.0%
BSE India SENSEX
-2.3%

Commodity Markets (CLOSE)

WTI Crude
+0.3%
Brent Crude
-0.5%
NYMEX Natural Gas
-0.7%
RBOB Gasoline
+0.1%
Gold Spot
-0.0%
Silver Spot
+0.0%
COMEX Copper
-0.1%
CBOT Corn
-0.3%
CBOT Wheat
+0.8%
CBOT Soybeans
-1.3%
ICE Cocoa
+0.4%
ICE Sugar
-0.1%
ICE Orange Juice Conc.
-1.5%
CME Live Cattle
+0.1%

Corporate Events

REPORTING EARNINGS
Company
Ticker
TUESDAY

CVS Caremark
NYSE: CVS
Louisiana-Pacific
NYSE: LPX
Archer Daniels Midland
NYSE: ADM
Checkpoint Systems
NYSE: CKP
Tenet Healthcare
NYSE: THC
DISH Network
Nasdaq: DISH
Zillow
NYSE: Z
Sotheby’s
NYSE: BID
First Solar
Nasdaq: FSLR
Walt Disney
NYSE: DIS
AmREIT
Nasdaq: AMRE
Apollo Residential Mortgage
Nasdaq: AMTG
Avis Budget Group
NYSE: CAR
Black Hills
NYSE: BKH
Box Ships
NYSE: TEU
Bridgepoint Education
NYSE: BPI
Calamos Asset Management
Nasdaq: CLMS
Coca Cola Bottling
Nasdaq: COKE
Credit Agricole
Paris: ACA.PA
DaVita HealthCare
NYSE: DVA
Diebold
NYSE: DBD
Dominion Resources
NYSE: D
El Paso Electric
NYSE: EE
GAMCO Investors
NYSE: GBL
Goodrich Petroleum
NYSE: GDP
Harman International
NYSE: HAR
Health Management Associates
NYSE: HMA
Henry Schein
Nasdaq: HSIC
Hospitality Properties
NYSE: HPT
Insmed
Nasdaq: INSM
Intercontinental Exchange
NYSE: ICE
Isis Pharmaceuticals
Nasdaq: ISIS
Jazz Pharmaceuticals
Nasdaq: JAZZ
Learning Tree International
Nasdaq: LTRE
Liberty Media
Nasdaq: LMCA
Marathon Oil
NYSE: MRO
Michael Kors
Nasdaq: KORS
Molson Coors Brewing
NYSE: TAP
OfficeMax
NYSE: OMX
Papa John’s International
Nasdaq: PZZA
Paragon Shipping
Nasdaq: PRGN
Plantronics
NYSE: PLT
Primerica
NYSE: PRI
Quicksilver Resources
NYSE: KWK
Regeneron Pharmaceuticals
Nasdaq: REGN
Standard Parking
Nasdaq: STAN
Synacor
Nasdaq: SYNC
Techne
Nasdaq: TECH
The Pantry
Nasdaq: PTRY
Tidewater
NYSE: TDW
Trex Co.
Nasdaq: TREX
Two Harbors Investment
NYSE: TWO

MOST ACTIVE STOCKS
BIGGEST GAINERS
% Gain
Dynatronics (Nasdaq: DYNT)
+92%
Helios and Matheson Analytics (Nasdaq: HMNY)
+86%
SGOCO Group (Nasdaq: SGOC)
+42%
B.O.S. Better Online Solutions (Nasdaq: BOSC)
+41%
Verenium (Nasdaq: VRNM)
+37%
Newtek Business Services (Nasdaq: NEWT)
+33%
Exceed Company (NYSE: EDS)
+25%
PCM, Inc. (Nasdaq: PCMI)
+22%
eFuture Information Technology (Nasdaq: EFUT)
+18%
Fossil Group (Nasdaq: FOSL)
+18%
BIGGEST LOSERS
% Drop
Furniture Brands (NYSE: FBN)
-38%
Superconductor Technologies (Nasdaq: SCON)
-35%
TravelCenters of America (NYSE: TA)
-28%
Allied Nevada Gold (NYSE: ANV)
-26%
Skilled Healthcare Group (NYSE: SKH)
-25%
China Advanced Construction (Nasdaq: CADC)
-25%
Nautilus (NYSE: NLS)
-23%
Parametric Sound (Nasdaq: PAMT)
-21%
McDermott International (NYSE: MDR)
-21%
Aecom Technology (NYSE: ACM)
-17%

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.

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