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Friday 18 October 2013

Stock Market Analysis & Stocks to watch today

China's 3rd quarter GDP growth fastest this year, providing further boost for stock markets
4 Fed officials will speak today starting from 12:30pm EDT
12:30pm   FOMC Member Tarullo Speaks
2:00pm     FOMC Member Evans Speaks
3:40pm     FOMC Member Dudley Speaks
4:30pm     FOMC Member Stein Speaks

No other US economic events today
The nonfarm payrolls report which was delayed from October 4 due to US government shutdown will now be released on next Tuesday, October 22


S&P 500 possible support/resistance @ 1730, it should act as a support for now & might be targeting 1740

Morgan Stanley's earnings beat expectations as 3rd quarter revenue jumped 50%
Stock is up from 28.93 to 29.90 in pre-market trading

Google continues to climb to 976 after its earnings beat expectations & stock price breaking previous record high

General Motors' global sales rose 4.6% this year
Stocks is up from 35.66 to 36.26

Although stocks are aiming to go up higher because of strong earnings, remember that it's also possible for traders to sell & take profit at the end of the week, which is today, especially after breaking record high

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