Thursday, July 22, 2010

MIDDAY LUNCH

Dow 10320.18  +199.65, Nasdaq 2238.29  +50.96,S&P 1092.57  +22.98 

Stocks are stronger today and are showing their best single session percentage gain in almost two weeks.

Industrial stocks are outperforming of the 56 stocks that make up the sector 54 are showing gains.  Caterpillar (CAT) 67.82 +0.95, 1.42%, Union Pacific (UNP) 73.81, +4.67, +6.77% and UPS (UPS) 63.61 +3.59, +5.98% all had very good earnings reports.

Commodities are also doing well today.  The CRB Commodity Index is up +1.7%, its best single-session advance in the past two weeks.

After the close today Microsoft (MSFT) 25.81 +0.70, +2.75% will report earnings, estimates are for the company to report EPS of $0.46 versus year ago years of $0.36.

Amazon (AMNZ) 118.83 +1.42, +1.22% will also be reporting after the close. Estimates are for the company to report EPS of $0.54 versus year ago years of $0.32.

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