Things you need to know about the trading day today:
- Yahoo's Jerry Yang resigned yesterday. Shares rose because speculators anticipate sale of the company's asian assets or the company as a whole now that he's no longer with the company.
- Goldman shares beat expectations(which had been significantly lowered) and shares rose in pre-market trading. US Bancorp beat expectations.
- Whole foods market rose over 4% yesterday on higher volume which indicates institutional buying. WFM is a buy from a long term perspective on pullbacks.
- CBRX is rebounding after crashing on Tuesday.
- U.S. producer prices fell in December.
- Industrial production rises slower than expected in December, up 0.4% Vs an expected 0.5%.
- Mortgage applications rose 23% last week.
- AAPL hit an all-time high on market open.
- EBAY is expected to report earnings after market close today, shares are expected to drop significantly after.
- The International Monetary Fund is proposing to raise its lending capacity by $500 billion to insulate the global economy against any worsening of Europe’s debt crisis, according to a rumor. This brought some relief to the euro and the european markets because this brings some assurance of security in the region.
- Stocks to watch: CREE, GS, USB, EBAY, FFIV, KMP.
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