Here is a recap of the top news items from this week on Wall Street:
1. The market was awash in IPO's this week, the most since 2007:
A123 Systems (Nasdaq: AONE) - priced at $13.50, above the expected range and finished this week at $19.81.
Apollo Commercial (NYSE: ARI) - priced at $20 and finished this week at $18.70.
Artio Global Investors Inc. (NYSE: ART) - priced at $26 and finished the week at $26.23.
Colony Financial (Nasdaq: CLNY) - priced at $20 and closed this week at $19.36.
The Trading Radar highlights key earnings and economic announcements for tomorrow's trading session:
Before Market Opens:
Economics:
8:30am ET
CPI for June - Street expects 0.6%
Empire Manufacturing for July - Street expects -59:15am ET
Capacity Utilization for June - Street expects 67.9%
...
Not Much Ado About Anything
Here's a link to listen to an Audio Version of the report:
Perhaps the biggest thing to understand about Tuesday’s market action is that the calendar says it is late August and as such, traders may be more focused on getting a little R&R than on where to place their next big bet in the markets. Although there were a couple of stories that demanded some attention, the day ended close to where it began and was fairly uneventful overall.
One the primary drivers of the activity, limited as it may have been, was the path of Hurricane Gustav. The storm is now projected to become a Category 4 hurricane when it hits the Gulf of Mexico and as such, caused some concern about the oil installations there and the potential for supply interruptions. Although trading in the oil and natural gas pits was not ...
