Today, December 2, 2008, the stock market is opening higher after yesterdays plunge. The Dow Jones Industrial Average ( DJIA ) is up 127 to 8275 as we are testing the 10 day moving average at 8292. The Nasdaq is up 24 to 1422 and the S&P 500 is up 18 to 835. Check out Art Cashin's comments on the S&P 500 from this morning. I am watching some of the stocks below and also the final hour to see how we close. I am also keeping the jobs report in the back of my mind on Friday. The USA is expected to have lost as many as 350,000 jobs in November and this report will be out on 12/05/08. If we get a number under 300,000 I think the market will spike higher.
Stocks to Watch - December 1, 2008
Apple ( AAPL ) and Research in Motion ( RIMM ) are going down because of Palm cutting their earnings. A virtual no name company that trades below $2 per share is dragging down RIMM stock almost 9% today. This is a sign technology is hitting a bottom. It's almost laughable! We'll have to see how the rest of the day goes but RIMM looks very interesting down here. It could get a pop if its breaks the high of day at $40.50.
Today's Biggest Gainers - 12/2/08
Watch Liz Claiborne ( LIZ ) as Guy Adami said last night on CNBC Fast Money he likes this stock for a trade. He didn't really elaborate but I think if it gets above $3 it might have some legs!
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Showing posts with label december 2 2008. Show all posts
Showing posts with label december 2 2008. Show all posts
Tuesday, December 2, 2008
General Motors GM - Ford F - 12/02/08 - Stock Report
Today, 12/02/08, General Motors ( GM ) and Ford ( F ) stocks are indicated higher pre market. After, closing at $4.59 yesterday, GM stock is set to open higher in pre market trading at $5.10 per share. Ford ( F ) also looks to be opening higher around $2.70 after hitting $2.09 yesterday at one point.
Why are these stocks so volatile? Investors and traders are positioning their portfolios for what may happen in the coming days and weeks!
Today, December 2, Auto Sales and Truck Sales will be released at noon. These figures are expected to be horrible. The big three automakers are getting ready to submit their separate plans today to congress. All three companies are filing separate plans. Congressional hearings are planned for Thursday and Friday as these three companies are seeking as much as 25 billion in a bailout plan that would help them avoid bankruptcy. General Motors Corp., Ford Motor Co., and Chrysler LLC would refinance their companies' debt, cut executive pay, seek concessions from workers and find other ways of reviving their staggering companies.
Besides driving to Washington by Car versus a private jet, Ford Motor (F) Chief Executive Alan Mulally plans to tell Congress he is accelerating his company's development of hybrid and electric vehicles and is willing to cut his salary to $1 a year if Ford uses any federal funds. It is unclear how the CEO's of General Motors ( GM ) and Chrysler are travelling to Washington.
Expect more volatility in both GM and F stock as we get some clarity on the above.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Why are these stocks so volatile? Investors and traders are positioning their portfolios for what may happen in the coming days and weeks!
Today, December 2, Auto Sales and Truck Sales will be released at noon. These figures are expected to be horrible. The big three automakers are getting ready to submit their separate plans today to congress. All three companies are filing separate plans. Congressional hearings are planned for Thursday and Friday as these three companies are seeking as much as 25 billion in a bailout plan that would help them avoid bankruptcy. General Motors Corp., Ford Motor Co., and Chrysler LLC would refinance their companies' debt, cut executive pay, seek concessions from workers and find other ways of reviving their staggering companies.
Besides driving to Washington by Car versus a private jet, Ford Motor (F) Chief Executive Alan Mulally plans to tell Congress he is accelerating his company's development of hybrid and electric vehicles and is willing to cut his salary to $1 a year if Ford uses any federal funds. It is unclear how the CEO's of General Motors ( GM ) and Chrysler are travelling to Washington.
Expect more volatility in both GM and F stock as we get some clarity on the above.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
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