Before the Open (Sep 28)

Good morning. Happy Friday.
The Asian/Pacific markets closed mostly up. China rallied 1.5%; India and Indonesia also did well. Europe is currently mostly down. France and Austria are down the most. The Czech Republic is up 1%. Futures here in the States point towards a moderate gap down open for the cash market.

The dollar is flat. Oil and copper are up. Gold is flat, silver is down.
The market bounced nicely yesterday, but volume was on the lighter side. The question now is whether it was just a one-day, dead-cat bounce within a correction or the beginning of a new leg up. We’ll see. It’s also possible the high from two weeks ago and the low from two days ago will form the upper and lower boundaries of a range.
I’m seeing improvement from charts of individual stocks. This is a positive sign. But are a couple down days enough to allow some indicators to cycle down? Probably not. We’ll find out soon how strong the market is. Technically the indexes are in good shape, but news has been bad and the psychology of the market is nowhere near what it was just two weeks ago.
RIMM did great with earnings and is up 16% in premarket trading.
ADTN missed on earnings and is down 14% before the open.
FINL released better-then-exected earnings. The stock is up 7%.
WAG said they had a tough quarter. The stock is down 3%.
AZZ is up 16.5% after their profits surged.
ASTX is up almost 8%.
NKE’s China sales disappointed. The stock is down 4%.
That’s it for now…not too much major news out.
headlines at Yahoo Finance
headlines at MarketWatch
today’s upgrades/downgrades
this week’s Earnings
this week’s Economic Numbers