Tuesday, May 18, 2010

MIDDAY LUNCH

Dow 10626.66  +0.30, Nasdaq 2338.38  -15.85, S&P 1134.66  -2.28 

Sellers have entered the market pushing stocks from their highs reached earlier today.  The pressure on stocks has caused the yield on the 10-year Note to fall to 3.43%.

Shares of retailers have also fallen under pressure. The group is down -1.0% as shares of Abercrombie & Fitch (ANF) 39.47 -1.31, -3.21%, Home Depot (HD) 34.86 -0.72, -2.03% and TJX Companies (TJX) 43.24 -2.01, -4.44% are all lower despite posting better than expected earnings reports. While shares of Wal-Mart (WMT) 54.24 +1.51, +2.87% are higher after the company posted an upside earnings surprised and issued an in-line earnings forecast.

In commodity trading Oil is trading +$1.03 higher at $71.11 per barrel and gold is off -$12.60 at $1215.50 per ounce.

After hours Hewlett-Packard (HPQ) 47.43 -0.09, -0.19% is due to release their latest earnings.  Wall Street estimates are for the company to report earnings of $1.05 versus $0.86 a year ago.

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