US inventories unexpectedly went down by 0.2%, this signals to investors that companies are encountering an increase in demand from their customers. This news is positive for INDUSTRIALS, MATERIALS. However, it appears that the broader market is in a stand still today as investors are still unwilling to buy cyclicals. Most probably they prefer to wait for the Unemployment claims data tomorrow for a clearer picture of the economy.
Financials went up very well today. Citigroup led the pack.
Boeing was the best performer today. It went up 3.5% on news that it is going to increase production of its 787 models to 2.5 per month.
This should be positive for Aluminum stocks as well, however, they fell as the general commodities stocks fell.
Alcoa Inc is once again the laggard of the DOW and metals stock.
Its sister, CENX, rose 1.49% today. RIO tinto actually rose in London trade. There is something wrong with Alcoa stock at the moment.
Tomorrow, the all important unemployment claims will determine the trend. Currently, analysts are expecting 456000 claims.
440000 claims will definitely send the DOW skyrocketing by 100 points.
TRADEDRAGON
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