Good morning. Yesterday's optimism has faded a bit and premarket futures are pointing toward a lower open.
Other than pure profit-taking and genuine skepticism over the last two days, weighing on sentiment include higher oil prices following a pipeline explosion in Minnesota, a bad report from Sears (SHLD), higher than expected jobless claims, and an inline GDP. E Trade (ETFC) is also making the news again with an outside investment and CEO change. Overseas markets were mostly higher in response to yesterday's gains on Wall Street.
Premarket gainers: REGN, ETFC, SOLF, SIGM, VMW, BIDZ, TWP, TIVO, LULU, WCG, PTT, SUF, VIP, ISSI, FRED, NOV, DLTR, BCSI, FRO, CPSL, IDSA, NILE, GME, DELL, SNDA, and DRYS.
Premarket losers: SHLD, ACGY, MW, RCI, DEIX, WEDC, GLDN, HSC, JAS, ASML, and GOLD.
At 10:AM we have reports on new home sales and the help wanted index. After that, the market will be wondering what Ben Bernanke and Fed Governor Fred Mishkin say in their speeches after the closing bell. Obviously, there's hope and expectation that they'll indicate a more friendlier and flexible Fed headed into December that will give us a boost tomorrow, but again we have to take this market one day at a time. Just like yesterday 1450 in the S&P is a key level to target in any pullback.
Have a terrific Thursday!
