The Wrap 9/16/10


Underwhelming data encouraged a mild fit of selling in the early going, but strength among tech stocks helped improve the tone of trade and lift stocks to a flat finish. After the close ORCL, RIMM, MLHR and DDMX are the only notable names that reported after the close.

Seven of the ten sectors were in negative territory, led by utilities (-0.5%), financials (-0.4%) and energy (-0.4%), while tech (+0.7%), materials (+0.4%) and telecom (+0.2%) were in the positive territory.

Tomorrow morning before the open, two economic reports are scheduled to be released: 1) CPI (Consensus 0.2%) and Core CPI (Consensus 0.1%).

Tomorrow, before the open, there are no companies scheduled to report.

Tomorrow is options expiration, be ready for much non essential volume and some serious chop.


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