{"id":5922,"date":"2012-08-28T07:44:26","date_gmt":"2012-08-28T12:44:26","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5922"},"modified":"2012-08-28T07:44:26","modified_gmt":"2012-08-28T12:44:26","slug":"before-the-open-aug-28-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5922","title":{"rendered":"Before the Open (Aug 28)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Tuesday.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mostly down. Taiwan dropped 1.4%; China rallied 0.85%. Europe is currently down across the board. Stockholm and Greece are down more than 1%; France, Amsterdam and Switzerland are also down noticeably. Futures here in the States point towards a flat open for the cash market.<!--more--><br \/>\n<\/span><br \/>\n<span style=\"font-size: medium;\">The dollar is down. Oil is up, copper down. Gold and silver are up.<\/span><br \/>\n<span style=\"font-size: medium;\">Spanish and Italian borrowing costs declined slightly. <\/span><br \/>\n<span style=\"font-size: medium;\">Spain&#8217;s GDP contracted at a faster pace on both an annual and quarterly basis.<\/span><br \/>\n<span style=\"font-size: medium;\">M&amp;T Bank (MTB) is acquiring Hudson City Bancorp (HCBK).<\/span><br \/>\n<span style=\"font-size: medium;\">IBM is buying Kenexa (KNXA)<\/span><br \/>\n<span style=\"font-size: medium;\">Lexmark (LXK) is closing a plant in the Philippines and cutting 1700 jobs worldwide in a restructuring effort.<\/span><br \/>\n<span style=\"font-size: medium;\">PVH raised its profit forecast.<\/span><br \/>\n<span style=\"font-size: medium;\">Sally Beauty (SBH) is buying back $300M of its common stock.<\/span><br \/>\n<span style=\"font-size: medium;\">Don&#8217;t over-analyze this market. The ranges are small; the volume is light. We&#8217;ve gotten some decent set ups to play, but we&#8217;re not getting much follow through. Being content with a couple points here and there is winning attitude right now. If you bargain for more, more often than not you give gains back. Here&#8217;s the 5-min S&amp;P chart over the last month. Other than the quick vertical move at the beginning of the month, the index has spent more time spinning it wheels than covering ground.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spx082812.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">Bernanke speaks Thursday. It could be a market mover. More after the open.<\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/www.marketwatch.com\/story\/newsviewer\">MarketWatch<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">today&#8217;s <a href=\"http:\/\/www.briefing.com\/investor\/calendars\/upgrades-downgrades\/\">upgrades\/downgrades<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=5916\">Earnings<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=5918\">Economic Numbers<\/a><\/span><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\n  var gaJsHost = ((\"https:\" == document.location.protocol) ? \"https:\/\/ssl.\" : \"http:\/\/www.\"); document.write(unescape(\"%3Cscript src='\" + gaJsHost + \"google-analytics.com\/ga.js' type='text\/javascript'%3E%3C\/script%3E\"));\n\/\/ ]]><\/script><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\n  var pageTracker = _gat._getTracker(\"UA-6273151-1\"); pageTracker._initData(); pageTracker._trackPageview();\n\/\/ ]]><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Tuesday. The Asian\/Pacific markets closed mostly down. Taiwan dropped 1.4%; China rallied 0.85%. Europe is currently down across the board. Stockholm and Greece are down more than 1%; France, Amsterdam and Switzerland are also down noticeably. Futures here in the States point towards a flat open for the cash market.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/5922"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5922"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/5922\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}