Wednesday, September 09, 2009

Evening Briefing for September 9th

* MARKET THEMES FROM WEDNESDAY: Stocks once again closed solidly higher, pulling back after a morning rally, but bouncing back late in the day. Advancing stocks on the NYSE led decliners by over 1300 issues, and we traded near bull highs in the S&P 500 and Russell 2000 indexes. The NASDAQ futures did hit a bull market high today. We saw a continued expansion in the number of stocks registering fresh 65-day highs, at 1153; Demand continued to outpace Supply (106 vs. 26), indicating continued upside momentum across the broad range of shares. The U.S. dollar finished off its lows vs. euro and Aussie dollar; gold and oil finished off their highs for the day. 10-year Treasury yields fell late in the day, closing below 3.5%.

* OVERSEAS/OVERNIGHT NUMBERS: 1:45 AM CT - France, industrial production; 4:00 AM CT - Italy, GDP; 6:00 AM CT - England, BOE rate announcement; 7:30 AM CT - Canada, merchandise trade balances; 8:00 AM CT - Canada, Bank of Canada rate announcement; 6:50 PM CT - Japan, GDP. Earnings reports scheduled for Thursday here.


-- Consumer credit on the decline;

-- Trading perspectives and more from Charles Kirk;

-- Trading lessons from Ted Williams;

-- A look at whether women make better investors;

-- How the S&P 500 Index fares by month.