To: i-node who wrote (419785 ) 9/25/2008 10:49:17 AM From: tejek Respond to of 1573866 BTW here is your 'great economy' unfortunately stinking up the joint and I am waiting for your response to my FNM post where I debunked your affirmations: 10:05 am : Stocks are advancing on hope that Congressional officials will approve a plan to purchase troubled assets from financial firms will soon be reached. Economic officials argue that the plan will help restore the financial system and lending markets, which will help drive the economy. In turn, early gains are broad based, though financials (+2.4%) are showing some of the largest gains. Each of the sector's industries are trading higher, save consumer finance (-0.1%). The weakness in consumer finance is primarily attributable to Capital One Financial (COF 49.02, -3.47). Looking to raise capital, Capital One announced priced a share offering at $49 per share.Just hitting the wires, new home sales in August totaled 460,000, which is below the 510,000 consensus. It is also down from the prior month's 520,000. Month-over-month, new home sales were down 11.5%, which is substantially below the 1.0% downturn that was expected. DJ30 +156.51 NASDAQ +31.57 SP500 +18.81 NASDAQ Adv/Vol/Dec 1629/211 mln/684 NYSE Adv/Vol/Dec 2070/148 mln/746 09:45 am : The major indices have opened with solid gains, following the prior session's relatively flat performance. The Dow, the Nasdaq, and the S&P 500 are all up more than 1% currently. Only two sectors are trading lower: materials (-0.7%) and industrials (-0.1%). Treasury Notes have failed to catch a bid as equities climb higher. The 10-year Note is currently unchanged.DJ30 +114.62 NASDAQ +22.10 SP500 +12.19 NASDAQ Adv/Dec 1344/794 NYSE Adv/Dec 1719/961 09:15 am : S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +6.30. Stock futures continue to drift lower from their morning highs. The dollar is down after stringing together two consecutive sessions of gains. The dollar index is currently down 0.3% to trade at 76.56. The index hit its lowest point in a month this past Tuesday. 09:01 am : S&P futures vs fair value: +9.40. Nasdaq futures vs fair value: +12.30. Stock futures continue to indicate an upward start to the trading session. Futures, however, are off their best level of the morning. In a CNBC interview, bond guru Bill Gross stated the unemployment rate could end up around 7% and the economy is not looking good for 2009. Oil futures are currently more than 1% lower, trading below $105 per barrel. 08:30 am : S&P futures vs fair value: +12.00. Nasdaq futures vs fair value: +15.30. Some economic data has just hit the wires, causing futures to dip a bit after rising earlier. August durable goods orders slipped 4.5%, which is worse than the 1.9% decline that was widely expected. Prior month orders were downwardly revised to reflect a 0.8% increase. Excluding transportation, orders were down 3.0%. Economists were expecting a 0.5% decline after the downwardly revised 0.1% increase in the preceding month. Initial jobless claims for the week ending September 20 totaled 493,000, up 32,000 week-over-week. The latest results were worse than the 450,000 claims that were expected. 08:00 am : S&P futures vs fair value: +4.20. Nasdaq futures vs fair value: +4.80. Stock futures currently indicate an upward start to the session as investors chew on some corporate earnings results before the opening bell. Nike (NKE) saw its first quarter diluted earnings per share decline 8% year-over-year to $1.03, but the results were still better than the consensus estimate of $0.92 per share. Bed Bath & Beyond (BBBY) earned $0.46 per share for its second fiscal quarter. That was down from $0.55 per share the previous year, though on par with analysts' expectations. Paychex (PAYX) also matched analysts' expectations by bringing in $0.41 per share for its first fiscal quarter. Its earnings were up 3% when compared with the prior year. In terms of guidance, General Electric (GE) has lowered its outlook for the third quarter and for fiscal 2008. The conglomerate has also suspended it stock buyback program. Standard & Poors has affirmed GE's AAA rating.