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World markets are lower today, however a few European markets are just turning green this morning. US futures are also making the cross into positive territory, but oil and gold are in fact lower. We may be in for a correction over the next few days, but a general market pullback probably is not likely with the Apple news lingering out there. That should be enough to give the shares a pop, which would pull a good number of the indices higher due to the large weighting given to the company's shares coupled with all of the suppliers the company uses.. That is something to watch in the coming days, the 'Apple Put' if you will, and how it impacts tech shares as well as general market sentiment.

We have economic news out today, and it is as follows (data set - consensus):

MBA Mortgage Index - N/A

Productivity-Rev. - 1.8%

Unit Labor Costs - Rev - 1.4%

Looking at Asian markets we see markets are mostly lower:

All Ordinaries - down 0.64%

Shanghai Composite - down 0.29%

Nikkei 225 - down 1.09%

NZSE 50 - up 0.17%

Seoul Composite - down 1.74%

In Europe markets are lower:

CAC 40 - down 0.18%

DAX - down 0.22%

FTSE 100 - down 0.34%

OSE - down 0.31%

Technology

ARM Holdings (NASDAQ:ARMH) has been a company we have liked for some time, in fact we were talking about it back when it was around $20/share, prior to the Microsoft deal and the huge run the company had. Sadly, shares find themselves back in the neighborhood to where they started, with much of the prior gains wiped out. Shares came under pressure yesterday after a Deutsche Bank analyst cut his rating on the stock and the company's CEO disclosed that the company's hiring plans had been trimmed back as a potential sales slowdown in the year's second half becomes more likely. It is our opinion that if shares should test the yearly lows, then one has to be a buyer at those levels for a long term hold. With shares having closed at $24.91/share after falling $2.33 (8.55%) on volume of 8.6 million shares, we still have 10-15% to fall before that attractive buying area is reached. One internet play we are now extremely bearish on is

Renren (NYSE:RENN) which announced that they will be pursuing ventures outside their current focus - that being mimicking Facebook in China. The company finished near the lows for the day, so we have to believe that many investors share our sentiment. As the company shifts its focus, we would rotate capital out of it and into other plays with better prospects in the internet space. We'd rather not take part in this experiment as we like to know what we own and the business plan moving forward. Unanswered questions provide for too much leeway for disappointing results, and sadly the company now has many unanswered questions.

Palo Alto Networks (NYSE:PANW) had a good day yesterday as shares rallied $5.83 (9.06%) to close at $70.21/share after Lazard Capital increased its price target on the shares. September 10th is the company's earnings date, and as this recently had its IPO, we would suspect that the numbers shall surprise and beat the consensus handily. That goes along with what the Lazard Capital analyst said, and for investors looking to play tech earnings, this is one of the better plays out there. We recognize that there is never a sure thing, but a beat is highly probable

Biotechnology

We would like to draw attention back to Arena Pharmaceuticals (NASDAQ:ARNA) which is still below $10/share, but continues to inch its way back up towards that level. Volume remains strong, with more than 13 million shares traded yesterday, and we maintain our thinking that shares will march higher by the end of the year. The target remains between $10-15/share with a longer-term target of $15-20/share. We have noticed on Yahoo that the keyword 'diet pill' has been trending from time to time so word is getting around that Americans will soon have options when it comes to weight loss via medication.

Manufacturing

Much has been said about Navistar (NYSE:NAV) and the current trucking market they find themselves in. Shares hit a new 52-week low yesterday after they fell $1.99 (9.05%) to close at $19.99/share on volume of 3 million. It appears that Class 8 truck sales remain low, however the sales figures are still up from the low set last month according to Wells Fargo. Either way, we want to stay away from here and instead focus on other means of investing in transportation, such as railroads which we really like at these levels. There are much better places to put your money to work than Navistar right now, as it will not be a snap back rally here, but rather a long road back to the levels previously enjoyed by the shares.

Source: Today's Market News To Trade On: 5 Stocks Moving On News