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Halftime Report 9.17.2012

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Apple is trading up today gaining 5.84 (+0.83%).  Pre-sales of the Apple iPhone 5 have shattered the tech giant’s previous records with 2 million of the phone being sold in the first 24 hours they were available.  The record was held by the iPhone 4s which saw 1 million pre-orders on its first day of availability. Long line are already forming outside at New York City’s 5th Avenue Apple Store in anticipation of the product release.

Things to look for this week:

Tuesday- Housing Market Index, FedEx earnings

Wednesday- Existing Home Sales, AutoZone, General Mills, Adobe Systems, Bed Bath & Beyond

Thursday- Jobless Claims, Earnings from CarMax, ConAgra, Rite Aid and Oracle.

Friday- iPhone 5 Ships.

James Ramelli B.S. in Finance from UIUC. Email: james@keeneonthemarket.com Follow: @Jim_KOTM

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Stocks Hit 4 Year Highs 9.6.2012

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The S&P 500 is currently up around 1.91% with financials and materials leading the rally, the DOW is up 1.73%, and the Nasdaq is up over 2%.  The VIX has fallen to near 16.

JPMorgan and Bank of America are leading the rally in the Dow up 3.8% and 4.54% respectively.

James Ramelli UIUC graduate in Finance. Email:james@keeneonthemarket.com Follow: @Jim_KOTM