April 17, 2013
Stocks Under $10: Hold-Rated Components of the S&P 500
 At www.ValuEngine.com we show then Hold or Sell rated stocks in the S&P 500 that ended Monday trading below $10 per share. One is in the Basic Materials sector which is 9.0% undervalued. One is in the Computer & Technology sector which is 10.4% overvalued. One is in the Oils-Energy sector which is 3.3% overvalued. Six are in the Finance sector which is 15.2% overvalued. One is in the Retail-Wholesale sector which is 17.1% overvalued. All ten stocks in today’s table have complete ValuEngine data and have enough price data to have most value levels, risky levels and pivots. AA – was a $48 stock in July 2007 and has been below $10 since the week of May 12, 2012. AMD – was a $20 stock at the end of 2006 and has been below $10 since the week of (more)…
April 12, 2013
Stocks Pull Back from Record Highs on Weak Retail and Consumer Confidence Numbers
 Stock’s ended the week higher, but the S&P 500 and Dow fell from Thursday’s new records as last month’s retail sales dropped for the second time this year, and consumer confidence in April was down. While analysts had forecast retail sales to remain the same as the previous month, a report from the Commerce Department showed a 0.4 percent drop for the month of March, leading to fears that the expiration of the payroll tax cuts earlier this year is finally showing its effects on consumers. Meanwhile, the Thomson Reuters/University of Michigan preliminary report on the index of consumer sentiment shows a drop to 72.3 for April, below forecasts, perhaps a result of the sequester cuts that triggered by partisan gridlock in Washington last month, as well as high gasoline prices. The S&P 500 dropped 0.28 percent to close at (more)…
April 11, 2013
More Record Levels for Dow and S&P 500 With Upbeat Initial Jobless Claims Data
 Wall Street is in the green again on Thursday following a report from the Labor Department showing the first time filings for jobless benefits in the week ended April 6 dropped after surging more than expected the week prior. The Labor Department said that the number of initial jobless claims for the latest week fell to a seasonally adjusted 346,000, a decrease of 42,000 from an upwardly revised 388,000 claims the week earlier. The agency had originally estimated 385,000 claims for the week ended March 30. The latest estimate is the lowest number in three weeks. The latest figure was well below economist predictions of a drop to 364,000 claims. The four-week moving average, typically regarded as a better barometer of the labor markets because is smooths weekly volatility, registered 358,000, up by 3,000 from the upwardly revised 355,000 figure (more)…
April 10, 2013
Wall Street Gains Across the Board on Techs, as FOMC Affirms QE
 On Wednesday, the S&P 500, the Dow, and the Nasdaq all gained near 1 percent or more and Wall Street extends its record-breaking tendencies into the second quarter. Against the unlikely backdrop of the Fed’s early and accidental leak of the Open Market Committee meeting’s minutes, as well as the beginning of an earnings season that has so far provided mixed results, the S&P 500 broke through to a new all-time high in intraday trading, as high as 1,589.07 before closing at 1,587.73, up 1.22 percent. The minutes of the FOMC showed that a majority of the Fed’s board members favored continuing the reserve bank’s monetary policy pending solid improvement in the economy, though there was a good portion of the summary that dealt in some detail with reservations on the part of some members regarding the potential consequences from (more)…
April 9, 2013
Dow Hits New All-Time High as Stocks Hold on to Gains After Late Surge
 The Dow Jones Industrial Average closed at a new all-time high on Tuesday, up 0.41 percent to 14,673.46, and at one point, reaching 14,716.46 before cooling off. Tech stocks led the way, guided by Microsoft Corp.’s (MSFT) 3.99 percent gain for a closing price of $29.73, followed by Intel Corp. (INTC), up 3.32 percent to $21.79. Cisco Systems (CSCO), Hewlett-Packard (HPQ), and AT&T (T) were also among the Dow’s best performers. Aerospace and defense giant Boeing (BA) received a small bump of 0.58 percent to close at $87.52, after the company announced the return of it problem-plagued 787 Dreamliner as early as next month. Boeing also announced a $1 billion investment to expand its South Carolina 787 factory, in the way of a similar announcement yesterday from its major rival Airbus regarding the opening of its first U.S. factory in Alabama. (more)…
April 8, 2013
Investors Anticipate For What Comes Next for the Market
 You know… I’m always intrigued when I see an advertisement that says something along the lines of, “We are rolling back prices to 2005 or 2003 or 2000…” I don’t know why I like that ploy, but there is something about buying anything new at the same price you would have paid for it years and years ago, that I like. I guess I am not the only person that thinks this way as that type of advertising does pop up now and then. In a way, that’s what happened on Friday when the unemployment numbers were released, but rather than be a good thing… it was stunningly bad and even harder to put into context… let me explain… Quote worth Quoting Again “Any people that would give up liberty for a little temporary safety deserves neither liberty nor safety.”… (more)…
April 5, 2013
Wall Street Pares Losses as Jobs Data Shakes Confidence
 The economic recovery and especially Wall Street’s spectacular first quarter run were thrown into question as the Department of Labor’s report indicated that far less jobs were added in March than expected. The 88,000 jobs created in March fell short of the 190,000 jobs that were expected. The figure is also a far cry from the revised February figure of 268,000 jobs created, and ends a week that also saw disappointing data from ISM’s report for March. The Department of Labor also showed unemployment had dropped 0.1 percent to 7.6, but the 24,000 job loss in the retail sector was a particular cause for concern, as the labor force participation rate fell to its lowest in over 30 years. The week was also marked by Thursday’s announcement from the Bank of Japan that it would be following its Western counterparts (more)…
April 4, 2013
Wall Street Holds on to Modest Gains with Increase in Jobless Claims, Japanese Stimulus Program
 The Bank of Japan announced that it will include longer-term government bonds in its asset purchasing program, in an attempt to achieve a 2 percent inflation target in two years’ time. Markets reacted positively as Japanese stocks closed at a gain of 2 percent. Meanwhile, forecasts for Friday’s jobs report predict that the economy added 193,000 jobs in the month of March, less than in February when 236,000 jobs were added. At the same time, the Labor Department released a report indicated that claims for unemployment benefits increased 28,000 in March, for a seasonally adjusted rate of 385,000, though economists had expected this number to be lower at around 350,000. The S&P 500 closed up 0.35 percent to 1,559.17, with the most notable performance coming from Best Buy (BBY), who gained almost 16 percent to close at $25.10 after announcing (more)…
As Sam Sees It: Where Will Stocks Go After Hitting New Highs in Q1?
 Each week, we tap the insight of Sam Stovall, Chief Equity Strategist for S&P Capital IQ, for his perspective on the current market. EQ: The first quarter of 2013 wrapped up in a very nice way, culminating in the S&P 500 finally breaking through to a new record close. What were your thoughts on the market’s performance in the first quarter? Stovall: I was very impressed. The S&P 500 was up 10 percent for the first quarter with all 10 sectors in positive territory. The market also closed higher in each of the three months, and I thought consistent growth all the way across was a fairly positive sign. I decided to analyze whether that is a good indication for the rest of the year, or an implication that the market was going to tire because we went out of the (more)…
April 3, 2013
Wall Street Slips on ADP Report Ahead of Friday’s Jobs Numbers
 Stocks tumbled on Wednesday as Automatic Data Processing Inc. (ADP), the payrolls processor, reported that the economy added 158,000 jobs during the month of March, shy of estimates of between 198,000 and 215,000. The ADP’s report is often used to gauge the outlook ahead of the Board of Labor’s monthly job’s report, due out on Friday, and follows on the heels of Tuesday’s weaker-than-expected ISM manufacturing index. Perhaps even more significantly, San Francisco Federal Reserve president John Williams said that the Fed could begin pulling back on its $85 billion per month quantitative easing plan as early as the summer, possibly ending it by the time 2013 is over, pending expected improvements in the labor market. On the international political scene, the unusually heated rhetoric coming out of the Korean Peninsula over the last couple weeks took its first tentative (more)…
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