STOCK MARKET WATCH, Friday 8 July

[ozymandius]

Friday July 8, 2005

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 3 YEARS, 197 DAYS
DAYS SINCE DEMOCRACY DIED (12/12/00) 4 YEARS, 201 DAYS
WHERE'S OSAMA BIN-LADEN? 3 YEARS, 264 DAYS
DAYS SINCE ENRON COLLAPSE = 1321
Number of Enron Execs in handcuffs = 19
ENRON EXECS CONVICTED = 2
Other Arrests of Execs = 54


U.S. FUTURES & MARKETS INDICATORS
NASDAQ FUTURES-----------------------------S&P FUTURES




AT THE CLOSING BELL WHEN BUSH TOOK OFFICE on January 22, 2001
Dow - 10,578.24
Nasdaq - 2,757.91
S&P 500 - 1,342.90

AT THE CLOSING BELL ON July 7, 2005

Dow... 10,302.29 +31.61 (+0.31%)
Nasdaq... 2,075.66 +7.01 (+0.34%)
S&P 500... 1,197.87 +2.93 (+0.25%)
10-Yr Bond... 4.03% -0.04 (-1.08%)
Gold future... 424.20 -0.30 (-0.07%)

GOLD, EURO, YEN, Dollars and Loonie




PIEHOLE ALERT

Heads Up!
Preliminary info on appearances by Bush & Co. throughout the country. Details & links are added as they become available so check back. And if you know more, are organizing something, or would like to, contact [e-mail]

For information on protests and other actions Citizens For Legitimate Government

[ozymandius]

1. WrapUp by Martin Goldberg

They're All Growth Companies!

Two of the leading sectors in the stock market in terms of 6-month performance are retail clothing stores, and department stores, ranking 1st and 9th, respectively in Investor Business Daily’s (IBD) 197 industry group rankings. The stocks within these sectors are having bullish runs that resemble those of high growth innovative companies, yet these companies are involved in businesses within markets whose long term growth rates are known, modest, and predictable. The government, the Fed and our Asian neighbors can turbo charge the generally gullible US consumer by allowing them to pile up debt via tax credits, perceived home equity, and artificially low interest rates to spend items purchased at retail stores. And there is now no telling how long the stock market will perceive the short term good fortune of retailers resulting from the credit bubble as “growth.” While these stocks by and large have the necessary component (momentum) to be winning stocks in the near term, there is a lot of risk in the intermediate and long term. Tonight, I’ll take a look at the technical charts of department store stocks. With one or two small exceptions, the near term outlook of these stocks (as long as the general stock market holds up) is “all good.” Yet while the near term prognosis of department store stocks is good, it is worth noting that the fundamental driving force behind their “growth” and stock performance is not sustainable and therefore, these stocks will eventually fall hard.

-cut-

Federated Department Stores

Federated Department Stores is in the process of making its steepest bullish run since it advanced from about 25 to over 75. What are these panic buyers seeing that has not already been seen?

-cut-

Today’s Market

The hot stocks stayed hot today as retailers and homebuilders led the general market higher. The Dow Jones US Homebuilders index closed at a new 52-week high and Pulte Homes broke out of a cup-with-handle pattern. The kid’s clothing retailers and department stores were strong on the back of generally strong June same store sales. Notable to the upside for kids cloths were Abercrombie and Fitch (+2.4%), American Eagle (+0.5%), Urban Outfitters (+0.4%), the Gap (+3.5%), and Limited Too (+1.5%). Laggards included Aeropostale Inc. which was down 6.5% in spite of two analyst upgrades in 2 consecutive days. The trading pattern in this stock is a tradable and (too) predictable trading range. After its run as a hot IPO, over the last year, the stock has traded in a 30% wide range, always making a slightly higher high and a slightly lower low.

-cut-

Today’s market showed tremendous resiliency in the face of the horrible and cowardly act of terrorism carried out in London, as the only major indices that were down were international, and the commodity-heavy Amex composite. Transports may have resumed their role as a laggard as they were down slightly in spite of lower closing oil prices (that were still above $60/barrel). The HUI was down slightly today, and it may be a bit overbought as it has failed to break its 40-week moving average for 4 consecutive weeks. My short-term view would change if the HUI closed above 210. The fundamental case for gold is as strong as the fundamental case for retailers at today’s valuations is weak. So when does a gain or a loss in the stock market become righteous?

more...

http://www.financialsense.com/Market/wrapup.htm

[bobbieinok]

2. simplistic question..did Dow go up after hearing of London bombings????

[Roland99]

3. It had been down as much as 101 but closed up

[plasticsundance]

4. I thought cynically to myself yesterday:

I wonder if the market goes in the green will some business or news pundit say the stock market shook off the tragedy. Guess what? I kid you not. I heard something very close to it. The MSM has some real sick f**ks. The denial continues, and compassion is just a game to them. Sad days indeed.

BTW, thanks ozymandius and UpInArms. Both of you do a great job posting news on the economy and the markets. I read it everyday to become more informed. Great job!

:toast:

[ozymandius]

5. Thank you plasticsundance.

And good morning to everyone. :donut:

UpInArms is on vacation from the thread until next week. So if you often look more than post, please contribute what you can. It is, after all, a group effort to keep this thread interesting.

I will be around a bit more later in the day. This morning has me busy with responsibilities at my regular job.

But for a moment, there's time to find some info on what the day may bring.

Ozy :hi:

[ozymandius]

6. June Hiring Up, Unemployment Rate Drops

WASHINGTON - Hiring around the country picked up slightly in June with employers adding 146,000 jobs — helping to push the unemployment rate down to 5 percent, the lowest in nearly four years.

The latest snapshot of the nation's jobs climate, released by the Labor Department on Friday, supported the view of Federal Reserve Chairman Alan Greenspan and his colleagues that the labor market continues to improve gradually.

The modest payroll gain of 146,000 jobs in June was up from 104,000 net jobs added in May. Payroll growth for both April and May turned out to be better than the government previously reported. Still, the strength of job growth seen in June was likely to disappoint economists. Before the release of the report, they were forecasting a more robust increase of around 195,000 jobs for the month.

"It all suggests that the labor market is improving a bit. But it's kind of anemic compared with what we were expecting. It really does validate the Fed's view. There is a gradual improvement in the labor market. But it is very gradual," said William Cheney, chief economist at John Hancock Financial Services.

more...

[ozymandius]

11. different take: Job growth tepid, jobless rate drops

WASHINGTON (Reuters) - U.S. employers added 146,000 jobs in June, below Wall Street forecasts, but the unemployment rate fell to its lowest point since September 2001 as few people joined the labor force, a government report showed on Friday.

The Labor Department revised up job growth in April and May to 292,000 and 104,000, respectively - boosting the two-month count by 44,000 payroll jobs.

June's tepid employment growth came in below analyst expectations for 188,500 new jobs in the month. But the decline in the unemployment rate to 5.0 percent was a nice surprise, since Wall Street had expected it to hold at 5.1 percent. The drop was mostly due to a paltry 1,000 increase in the work force, which includes those looking for work as well as those who have jobs.

Factory payrolls shrank for the fourth straight month as auto assembly and parts plants cut back on production. A glut of inventories has prompted many automakers to slow production lines until demand can catch up. Some 96,000 manufacturing jobs have been lost since August 2004.

more

[thoughtanarchist]

17. Yet another take...

Wage growth still below consumer prices...

<snip>

The drop in the jobless rate is not good news, as it was largely due to fewer people looking for work, said Drew Matus, economist at Lehman Bros. "People do not believe that employment opportunities are plentiful."

Average hourly earnings rose 3 cents, or 0.2%, to $16.06 in June, as expected. Earnings are up 2.7% in the past year, falling behind the 2.8% rise in consumer prices.

<snip>

http://www.marketwatch.com/news/story.asp?guid=%7B20B8B464%2D34A7%2D4893%2D8118%2DE17E22217F05%7D&siteid=mktw


I've come out of lurking today...Hey all!
I want to tell you all how great this thread has been and thank you for keeping us lurkers up to date!

[Birthmark]

24. And here's my take

While the number of employed grew by 163,000 in June, the number Not in Labor Force grew by 240,000. This has been a hallmark of the Bush Presidency. Since Not in Labor Force isn't used in calculating the U3 Unemployment Rate, it explains why the U3 doesn't seem to match our own observations. There are a LOT more people out of work than the U3 would lead us to believe.

[ozymandius]

7. Stocks Set to Open Up on Economic Data

NEW YORK - U.S. stock futures are trading higher Friday, continuing to defy pressure from Thursday's terrorist attacks in London. Investors will focus on economic data that includes monthly reports on wholesale inventories and consumer credit.

Dow Jones futures were recently up 37 points, while Nasdaq futures were ahead 5.5 points and S&P futures were up 4.40 points.

-cut-

After shuddering in the wake of London's bombings, world financial markets rebounded strongly Thursday as trading wore on. The Dow Jones Industrial Average, down more than 220 points in futures trading before regular U.S. trading began, finished up 31.61 points, or 0.31 percent, at 10302.29, still down 4.5 percent for 2005.

more

[ozymandius]

8. more data to follow

The Commerce Department is due to release the May wholesales inventories report at 10:00 a.m. EDT on Friday. Economists look for a moderate 0.5 percent increase in wholesale inventories for May following a 0.8 percent increase in April.

[ozymandius]

9. Oil Prices Recover Following London Blasts

VIENNA, Austria - Oil futures prices swung higher Friday as traders shrugged off the shock of the London bomb blasts and focused on a drop in U.S. crude stocks and possible supply disruptions because of Hurricane Dennis.

Light, sweet crude for August delivery on the New York Mercantile Exchange rose 62 cents to $61.35 a barrel in electronic trading by midday in Europe. Unleaded gasoline jumped nearly 4 cents to $1.8450 a gallon while heating oil gained a penny to $1.7850.

Brent futures rose 64 cents to $59.92 a barrel on London's International Petroleum Exchange.

-cut-

Oil dropped from above $62 to near $57 a barrel — what Vienna's PVM Oil Associates said was the largest price swing since the 1991 Gulf War — on concern the economy would be hurt by a decline in tourism. But prices recovered to close at $60.73, down 55 cents.

more

[ozymandius]

10. markets are open for bidness

9:32
Dow 10,310.73 +8.44 (+0.08%)
Nasdaq 2,076.74 +1.08 (+0.05%)
S&P 500 1,197.55 -0.32 (-0.03%)
10-Yr Bond 40.49 +0.18 (+0.45%)
NYSE Volume 18,114,000
Nasdaq Volume 36,172,000

and blather...

9:15AM: S&P futures vs fair value: +2.4. Nasdaq futures vs fair value: +2.5. Futures market continues to weaken heading into the open but still suggests a slightly higher open for equities, as the market's resilience following yesterday's tragedy in London indicates there is still good underlying demand for stocks

9:00AM: S&P futures vs fair value: +3.7. Nasdaq futures vs fair value: +4.0. Futures indications off their highs but still trade above fair value, pointing to a modestly higher open for the cash market... Aside from healthy jobs data providing some early support, Alcoa (AA) posting its best quarterly profit in history has also helped underpin a positive bias in pre-market trading and partially offset a rebound in oil prices ($61.68/bbl +$0.95) as hurricane Dennis strengthens

[ozymandius]

12. update and blather

10:03
Dow 10,328.22 +25.93 (+0.25%)
Nasdaq 2,077.54 +1.88 (+0.09%)
S&P 500 1,199.79 +1.92 (+0.16%)
10-Yr Bond 40.52 +0.21 (+0.52%)
NYSE Volume 226,808,000
Nasdaq Volume 217,109,000

9:40AM: Market opens in lackluster fashion but is now trading slightly higher as investors sift through this morning's jobs data... Even though nonfarm payrolls rose a modest 146K, slightly below an expected 195K increase, May and April data were revised upward to 104K (from 78K) and 292K (from 274K), respectively, as Q2 nonfarm totals checked in up 542K versus Q1 total payrolls of 546K...

Average hourly earnings merely matching forecasts of +0.2% have kept inflation in check while the unemployment rate falling to 5.0% (from 5.1%) - the lowest since the Sept. 2001 terrorist attacks - has perhaps also helped investors deal with the tepid rise in June job growth... Overall, the data are on track for real GDP growth in the second half of the year to come in around 3.0-3.5%... Separately, May wholesale inventories (consensus +0.5%) will be released at 10:00 ET...

[Roland99]

14. I hope Brit Hume got his buy orders in

:mad:

[ozymandius]

15. If anyone needs a reminder of this ghoul's drivel...

Hume's "first thought" on hearing of London attacks: It's "time to buy" futures

From Fox News' July 7 breaking news coverage between 1 and 2 p.m. ET:

SMITH: Some of the things you might expect to happen, for instance, a drop in the stock market and some degree of uncertainty across this country -- none of that really seen today, and I wonder if the timing of it -- that it happened in the middle of the night and we were able to get a sense of the grander scheme of things -- wasn't helpful in all this.

HUME: Well, maybe. The other thing is, of course, people have -- you know, the market was down. It was down yesterday, and you know, you may have had some bargain-hunting going on. I mean, my first thought when I heard -- just on a personal basis, when I heard there had been this attack and I saw the futures this morning, which were really in the tank, I thought, "Hmmm, time to buy." Others may have thought that as well. But you never know about the markets. But obviously, if the markets had behaved badly, that would obviously add to people's sense of alarm about it. But there has been a lot of reassurance coming, particularly in the way that -- partly in the way the Brits handled all this, but also in the way that officials here handled it. There seems to be no great fear that something like that is going to happen here, although there's no indication that we here had any advance warning.

http://mediamatters.org/items/200507070007

[ozymandius]

13. Reminder: you can find averages for any date after 12/31/69 at this link:

http://finance.yahoo.com/q/hp?s=%5EDJI

[ozymandius]

16. update

10:31
Dow 10,353.40 +51.11 (+0.50%)
Nasdaq 2,081.84 +6.18 (+0.30%)
S&P 500 1,201.34 +3.47 (+0.29%)
10-Yr Bond 4.042 +0.11 (+0.27%)
NYSE Volume 365,685,000
Nasdaq Volume 329,726,000

10:00AM: Equities are still on the offensive as the bulk of sector leadership remains positive... Materials has paced the way higher, led by a 3.3% surge in Alcoa (AA 26.96 +0.87), which reported its best quarter ever last night, while a rebound in oil prices and an analyst upgrade on Burlington Resources (BR 59.60 +0.81) has given the Energy sector a boost... Technology has been strong across the board while continued upside momentum in retail has helped the Consumer Discretionary sector extend gains...

A 1.3% surge in General Electric (GE 34.61 +0.43), following upbeat analyst remarks, has given a lift to Industrials, but modest weakness in airlines has weighed on transportation... DJTA -0.2, DJUA +0.2, DOT -0.1, Russell 2000 +0.3, SOX +0.5, S&P Midcap 400 +0.1, XOI +0.6, NYSE Adv/Dec 1535/969, Nasdaq Adv/Dec 1354/936

[loudsue]

19. Looks like somebody is buying rounds of kool-aid!

On the house!!


Good Morning, Marketeers! And thanks so much, Ozy, for keeping us up to date on the market numbers! :yourock:


:kick::kick::kick:

[ozymandius]

28. Hey loudsue - thanks for checking in!

I hope your gig is going great!

:toast:

Ozy :hi:

[Roland99]

20. Oh look...a defense contractor on the upswing.

[ozymandius]

18. 11:02 numbers (really low volume today)

Dow 10,370.88 +68.59 (+0.67%)
Nasdaq 2,084.85 +9.19 (+0.44%)
S&P 500 1,203.80 +5.93 (+0.50%)
10-Yr Bond 40.42 +0.11 (+0.27%)
NYSE Volume 512,795,000
Nasdaq Volume 463,235,000

10:30AM: Major indices continue to strengthen but are showing little reaction to the latest economic report... At the top of the hour, May wholesale inventories rose just 0.1%, below an expected rise of 0.5% and a downward revision on April's rise to 0.7% (from 0.8%), as sales were flat to leave an unchanged inventory to sales ratio of 1.18 months... However, since the data say little about personal consumption, the report has gone relatively unnoticed by both stock and bond investors... NYSE Adv/Dec 1554/1202, Nasdaq Adv/Dec 1367/1154

[ozymandius]

21. 11:48 and everything's just great, ahem, great

Dow 10,392.75 +90.46 (+0.88%)
Nasdaq 2,086.64 +10.98 (+0.53%)
S&P 500 1,205.27 +7.40 (+0.62%)
10-Yr Bond 40.76 +0.45 (+1.12%)
NYSE Volume 701,066,000
Nasdaq Volume 619,821,000

[Roland99]

22. Better sell, Brit! Make some terror profit there, buddy!

[ozymandius]

23. blather to boot

11:30AM: Major averages continue to trade near session highs, taking a bullish cue from strength in European markets... While the U.S. markets yesterday showed much of their resilience to the terrorist attacks in London, as there is already a large risk premium in the market due to terrorist concerns, European markets today have demonstrated their toughness as well... The FTSE 100 Index, which was down as much as 4.0% yesterday immediately following news of the explosions, rebounded to finish up 1.4% today...

[ozymandius]

25. Exchange Announces Signing of Joint Venture to Develop Futures Exchange in

Exchange Announces Signing of Joint Venture to Develop Futures Exchange in Dubai

New York, N.Y., June 10, 2005 — The New York Mercantile Exchange, Inc., and Dubai Holding today announced the formation of the Dubai Mercantile Exchange (DME), a 50/50 joint-venture to develop the Middle East's first energy futures exchange.

It is expected that the DME will initially trade sour crude and fuel oil. It will be based in the Dubai International Financial Centre (DIFC), a financial free zone designed to promote financial services within the UAE. In addition, the DME will be regulated by the Dubai Financial Services Authority, a regulatory body established within the DIFC. The DME is expected to open for trading in early 2006.

The Exchange and Dubai Holding will each contribute capital and services towards establishing the DME, which will house both open outcry and electronic trading platforms. In addition, NYMEX will contribute software and systems to run the trading operations, including trade entry and risk management systems. The DME will leverage the Exchange's proven expertise in compliance, marketing, research, and information technology to develop DME platform. Trades executed on the DME will be cleared through the NYMEX clearinghouse in New York.

more...

http://www.nymex.com/jsp/news/press_releas.jsp?id=pr20050610a

Whtacha wanna bet that they will not be trading in euros. When is Iran's oil exchange planned to open again?

[ozymandius]

26. numbers through the roof and blather

12:15
Dow 10,417.14 +114.85 (+1.11%)
Nasdaq 2,093.58 +17.92 (+0.86%)
S&P 500 1,208.48 +10.61 (+0.89%)
10-Yr Bond 40.79 +0.48 (+1.19%)
NYSE Volume 821,948,000
Nasdaq Volume 726,104,000

12:00PM: Market holding onto strong gains midday as healthy jobs data and a strong Q2 report from Alcoa overshadow a rebound in oil prices... Earlier, the Labor Dept. reported a 146K rise in June nonfarm payrolls, which checked in slightly below an expected 195K increase... While tepid job growth initially sent mixed signals to investors, it is now evident that market participants have embraced the fact that such growth is still consistent with strong economic expansion, but not too strong to ignite inflation fears...

Upward revisions in the May and April data to 104K (from 78K) and 292K (from 274K), respectively, coupled with the unemployment rate falling to 5.0% (from 5.1%) - the lowest since the Sept. 2001 terrorist attacks - and average hourly earnings holding steady at +0.2%, have also provided a floor of support that has left all ten economic sectors trading higher... Pacing the way to the upside, largely in response to Alcoa (AA 27.06 +0.97) officially kicking off earnings season with its best quarter in history, has been the Materials sector...

Also surging more than 1.0% have been Industrials, as General Electric (GE 34.95 +0.77) has surged 2.3% after two Wall Street analysts highlighted recent weakness as a reason to own the stock... Technology has been strong across the board, led by large-cap names like INTC (+1.4%), IBM (+2.2%), QCOM (+1.4%) and ORCL (+1.4%), while continued momentum in retail has helped Consumer Discretionary extend gains... Energy has also been strong, benefiting from a rebound in oil prices ($61.40 +0.67) and an analyst upgrade on Burlington Resources (BR 59.60 +0.81)...

[ozymandius]

27. just can't get enough kool-aid

12:56
Dow 10,428.58 +126.29 (+1.23%)
Nasdaq 2,098.64 +22.98 (+1.11%)
S&P 500 1,209.25 +11.38 (+0.95%)
10-Yr Bond 40.81 +0.50 (+1.24%)
NYSE Volume 987,408,000
Nasdaq Volume 873,064,000

Of course, the bond traders aren't too happy.

12:30PM: Onward and upward remains a driving mantra for today as a bullish bias remains intact... Advancers on the NYSE hold a more than 2 to 1 advantage over decliners while advancing issues on the Nasdaq hold a 9 to 5 edge over declining issues... A 3 to 1 ratio of up to down volumes on both the Big Board and the Composite, however, reflects an even more positive tone to trading...

The Dow, which is up more than 200 points from yesterday's lows, continues to lead the charge, while the S&P and Nasdaq - also trading well above initial support levels - have recently broken through resistance levels of 1208 and 2095, respectively, and are also approaching gains in excess of 1.0%... NYSE Adv/Dec 2242/839, Nasdaq Adv/Dec 1824/1000

[ozymandius]

29. Holy freakin' clamdip skinny!

The bond traders must be jealous of the stock brokers today. Volume is huge all of a sudden.

Dow 10,448.91 +146.62 (+1.42%)
Nasdaq 2,106.75 +31.09 (+1.50%)
S&P 500 1,210.80 +12.93 (+1.08%)
10-Yr Bond 40.84 +0.53 (+1.31%)
NYSE Volume 1,333,005,000
Nasdaq Volume 1,166,725,000

2:00PM: Little changed since the last update as buying remains widespread across most areas... Bonds, however, continue to languish near session lows, as the benchmark 10-year note is down 4 ticks to yield 4.07%... Even as the weekend holds newly added event risk following yesterday's attacks in London, the Treasury market has lost ground at the expense of a rally in stocks... NYSE Adv/Dec 2295/863, Nasdaq Adv/Dec 1955/980

EDIT: 1:06PM Crude Oil sees another tumble into end of week trading... $60.25 -0.48... contract has fallen 1.5% over the past 25 min

[ozymandius]

30. 3:34 and pumping

Dow 10,457.27 +154.98 (+1.50%)
Nasdaq 2,112.75 +37.09 (+1.79%)
S&P 500 1,212.26 +14.39 (+1.20%)
10-Yr Bond 41.09 +0.78 (+1.94%)
NYSE Volume 1,620,564,000
Nasdaq Volume 1,431,132,000

3:00PM: Holding steady at sharply higher levels, as buyers remain in control of the action... The Dow is on pace to record its first 100-point gain in July, the Nasdaq is trading above 2100 for the first time since June 23 and the S&P is less than 1 point away from reaching breakeven for the year... Of the ten economic sectors, seven of the nine trading higher have surged more than 1.0% while Energy - today's only disappointment - has fallen more than 1.0%, as oil ($59.63/bbl -$1.10) failed to hang onto nearly a full day of gains... NYSE Adv/Dec 2347/880, Nasdaq Adv/Dec 2039/956

[ozymandius]

31. close

Dow 10,449.14 +146.85 (+1.43%)
Nasdaq 2,112.88 +37.22 (+1.79%)
S&P 500 1,211.86 +13.99 (+1.17%)
10-Yr Bond 41.09 +0.78 (+1.94%)
NYSE Volume 1,900,816,000
Nasdaq Volume 1,634,226,000

Close: Stocks rallied across the board, closing at their best levels for the week, as investors embraced encouraging employment data and a strong Q2 earnings report from Alcoa... The Dow recorded its first 100+ point gain of the month, the Nasdaq closed at its best levels since January and the S&P came within inches of breaking even for the year (again)... Before the bell, the Labor Dept. showed that June nonfarm payrolls rose by 146K, less than the 195K increase economists had anticipated...

However, with ongoing uncertainty as to when the Fed may finally end its "measured" pace of hiking interest rates, further analysis of the data proved to be quite reassuring to investors, as the tepid payrolls figure still reflected growth but didn't sound inflation alarms... Upward revisions in the May and April data to 104K (from 78K) and 292K (from 274K), respectively, coupled with the unemployment rate falling to 5.0% (from 5.1%) - the lowest since Sept. 2001 - and average hourly earnings holding steady at +0.2%, also provided a floor of support that closed nine out of ten economic sectors in positive territory...

Turning in the day's best performance was the Materials sector, after Alcoa (AA 27.19 +1.10) officially kicked off earnings season last night with its best quarter in history... Coming in a close second but providing more of the leadership was Technology... Of the top ten sector components accounting for more than 50% of the weighting in tech, International Business Machines (IBM 79.31 +1.93) paced the gains, closing at its best levels in three months following several upbeat analyst comments regarding IBM's upcoming Q2 report...

[ozymandius]

32. Have a great weekend folks!

See you Monday morning.

Ozy :hi: