Good morning. Premarket futures are positive after the Federal Reserve
announced plans to lend up to $200 billion through a new lending tool. Along with the Fed's actions, some also cite the little known
Anderson Forecast which predicted that the U.S. would not fall into recession as providing a positive boost to sentiment.
In other news, the U.S. trade balance widened, Texas Instruments (TXN) lowered its first quarter guidance, and Wellpoint (WLP) among other healthcare firms are under pressure due to earnings warnings. Worldwide markets are also trading higher as crude pushes to new highs.
Premarket gainers: TMA, CHTR, WEL, GNBT, HALO, SYX, C, BSC, SMTS, ETFC, DROOY, GE, GOLD, JASO, IPAR, FACE, BONT, SLV, CSIQ, TBSI, DRYS, ID, COIN, ACGY, SOLF, FSLR, RIMM, MO, CROX, and AAPL.
Premarket losers: WLP, UNH, AET, NOK, TCM, STP, AET, FRPT, TXN, MFA, JSDA, MICC, and FTEK.
Now that oversold conditions have been hit, we're seeing indications that buyers will step up and put money to work today and looking for any reason for the market to rally. No doubt, we'll learn a lot from the strength of this bounce. As a first step, we need to break that short-term downtrend channel by clearing S&P 1310. Watch those financials for intraday signals.
Have a terrific Tuesday!
