Good morning, on this the 40th day of 2005, a day marking the end of HP CEO Carly Fiorina’s reign at that Dow 30 component.
“While I regret the board and I have differences about how to execute HP’s strategy, I respect their decision, HP is a great company and I wish all the people of HP much success in the future.” Ousted former CEO Carly Fiorina
It remains to be seen if this Carly Factor will be a sufficient catalyst today to propel the market forward, although pre-open, futures had been drifting down slightly until the news release caused a nice little spike higher. Clearly this news affects HP primarily so we would not expect a rally on this news to have lasting effect this morning, but sometimes a little news is all that is required to kick start other stocks.
US Market Calendar
- 7:00 am: MBA Purchase Applications
- 10:00 am: Wholesale Trade – Dec.
- 10:30 am: EIA Weekly Petroleum Status Report
- 11:15 am (ET): Federal Reserve Governor Edward Gramlich addresses speaks on U.S. economic trends at a symposium in Denver, Colorado.
- 1:00 pm: 5-year note auction
- 7:15 pm: New York Federal Reserve Bank President Timothy Geithner speaks at the Economic Club of Washington .
Canadian Market Calendar
- No scheduled releases.
Earnings and the Federal Reserve
For earnings highlights, please see today's WSJ Earnings Calendar.
For a list of upcoming speeches, congressional testimony, Federal Open Market Committee material, and statistical releases, please visit the What's Next page of The Federal Reserve Board website. Recently released Federal Reserve Board material, including market moving FOMC decisions and speeches by members, will be found on their What's New page.
05.02.09 08:46 #