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Market Recap 9.11.2012

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Metal futures and crude oil futures were mostly flat all day with gold up about 3 points and crude up less than half of a point. Natural gas gained 6.61%.

AIG ($33.03 | – 0.81%) had the highest volume of the day trading 217 million shares. Today’s volume is a result of the US Treasury selling off its stake in AIG reducing their stake from 53% to 16%. The Treasury gained $15 billion in profits from the sale of AIG stock. AIG has been trading between 30 and 35 since mid-August. 

Since the poor report on jobless claims last week and drop in exports in the international report this morning, speculation about a QE3 has increased. An asset purchase could improve exports by reducing the value of the US dollar. 

Important news besides Apple’s (AAPL | 660.59 [-2.15]) iPhone 5 debut tomorrow (possibly available for purchase by September 21st) is Facebook (FB | 19.43 [+0.52]) CEO will speak publicly since the IPO debacle. Facebook has continued its climb up the fourth day in a row hitting prices it hasn’t seen since August 24th.

Texas Instruments Inc. (TXN) announced second-quarter revenue of $3.34 billion, net income of $446 million and earnings per share of 38 cents. The stock stayed even today, slightly down $0.09, but the after-hours announcement caused the stock to surge $0.39 in after hours trading. TXN 52 week low and high is 25.60 -34.24 respectively. 

Some big economic events this Thursday include Jobless claims, Produce Price Index, and Bernanke’s Press Conference. 

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Morning Rage 9.11.2012

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Amazon.com, Inc. (AMZN | $256.67) is down less than a half of a point in pre-market trading. Amazon recently released the HD Kindle Fire, to be available at the end of November. Amazon is competing in a market where PC makers have continually failed to take the dominant position from Apple, which has more than half of the entire tablet market. Apple, Inc. (AAPL | 662.74), which is up 2.25 points in pre-market trading, gets its strength from having multiple matching devices that focus on simplicity for the user. Everything is fluid for the user, including the shape and style of all the products.

The one company capable defeating Apple in my opinion, Google (GOOG | 700.77), which is up almost 7.00 points in pre-market trading, has yet to stamp their logo on the outside of sleek hardware. I would also expect Apple to continue pushing other companies off of its platform by taking over their products and services. Apple will hold on to its dominance for a long time. However, the market is saturated with new iPhones and I don’t expect all of the iPhone 4 users to drop their somewhat new phones to get an iPhone 5, due to release Wednesday. This release will not be the same for Apple.

International trade data will be released today. The important data for US markets is the trade gap between exports and imports. I can’t be sure where the US is exporting to with Europe in a mess and China’s growth slowing for almost half of a year. The trade balance is said to continue higher with an estimate over -44.3 Billion. This report will be released at 8:30am EST. 

Alex Kalish has a masters in economics from Suffolk University.

Contact: alexk@keeneonthemarket.com

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Halftime Report 9.5.2012

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 DIS hit a new all time high today and, so far in 2012, DIS is up 36%.“The Avengers” and moreover the Marvel acquisition is proving to be a great move for the equity.

In the financial sector, GS broke above the 150-day moving average, which resisted price on two prior occasions in the last two weeks (8/21 and 9/4) for it has been grinding horizontally.

Other stocks of interest include AAPL, which battled its was back to unchanged after being down earlier today; even in the face of a slow market.

Be sure to check out our StockTwits account, where we will be a lot more active, tweeting out charts and analysis.

http://stocktwits.com/KeeneOnMarket