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Friday, July 30, 2010 | 01:50 AM EDT |

DJIA (DIA) S&P 500 (SPY) Gold (GLD)

Thursday Wrap: Bears Win This One

Market recap: Stocks finished with modest losses, the balance tipped by disappointing revenue and guidance from utilities and consumer companies. Traders also were uneasy ahead of Friday's GDP report. Closing numbers

XOM: When 24% Just Isn't Enough

ExxonMobil: Q2 EPS of $1.60 beats by $0.14. Revenue of $92.5B (+24.2%) misses vs. $98.5B. Oh, and profits were only up 91%. (Press release)

More on: XOM, Oil & Gas Majors, Earnings

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Feasting on Food Stocks

Checking In on Cable's Bottom Line

With people increasingly turning to online video streaming for their entertainment needs, we thought it time to check in on financial projections for three key cable plays - one content producer (DIS) and two service providers (DTV, CMCSA).

China's Banks on the Brink?

According to Patrick Chovanec, "Some concrete data is starting to emerge regarding the potential size of the problems that may be lurking on China’s bank balance sheets..." In a two-part series, he examines the doubts surrounding the health of the system, and the challenges to its structural reform.
China's Banks at Risk
by Patrick Chovanec
Chinese Banks at Risk (Part II)
by Patrick Chovanec

Recovery Running Out of Steam?

U.S. economic activity continued "weak" in June and into July, the Fed said in its Beige Book report. Overall activity was broadly flat in the Cleveland and Kansas City districts, while Chicago and Atlanta said the pace of economic activity had slowed.

ETF Investing Ideas

More on: ETF, Portfolio-Building with ETFs, Currency ETFs, Sector ETFs

Eyeing Energy Stocks

Where Is Gold Going?

Gold Rebounds From Three-Month Low (Bloomberg)

BP Reports Gushing Q2 Losses

Press release: BP Group Results: Second Quarter and Half Year 2010

BP today reported a Q2 net loss of $17.15B, vs. a year-earlier profit of $4.4B. Pre-tax charge of $32.2B related to the Gulf spill, which includes the $20B escrow account.

BP Q2 2010 Earnings Call Transcript

Case-Shiller: More Housing Gains

May S&P Case-Shiller 20-City Composite Home Price Index: +1.3% M/M; +4.6% Y/Y vs. +4.1% expected.

Positive numbers aside, it will take until September to get beyond tax stimulated home sales and see if there's 'organic' growth. Thus, S&P's claim that despite gains, 'home prices have generally moved sideways' over the last year.

Market Currents|Top Stories

12:05 AM Notable earnings before Friday's open: ACI, AEP, AIV, AON, BPO, BWA, CSE, CVH, CVX, ENDP, FO, ITT, LPX, MCK, MRK, NWL, PEG, SPG, UFS, UPL, WY Comment!
12:00 AM Friday's economic calendar:
8:30 GDP Q2
8:30 Employment Cost Index
8:30 ISM New York Business Index:
9:45 Chicago PMI
9:55 Reuters/UofM Consumer Sentiment
3:00 PM USDA Ag. Prices Comment!
29 Jul, 6:15 PM Despite cries that letting the Bush tax cuts die would kill any recovery, few dare utter an uncomfortable reality, according to Gregg Easterbrook: Taxes should rise for everyone, not just for the rich. Americans think they're clobbered by onerous taxes, but U.S. taxes are relatively low compared to the rest of the world, and federal income taxes have fallen dramatically. 91 Comments

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