Knobias ClipReport (7-26-2007)
Submitted from Knobias ClipReport
Wednesday’s session saw the indexes trading in range for the majority of the day as many were worried over the inability of Wall Street to raise the debt financing for Cerberus to buyout Chrysler Corp. The news led many to believe that the leverage buyouts could begin to halt as cheap money was drying up domestically. A weaker than expected existing homes sales number also fueled concerns regarding the market in the face of better than expected earnings numbers from Boeing.
The market’s action during Thursday’s session could certainly be affected by Apple earnings which many traders were eagerly awaiting. AT&T’s earnings earlier in the week gave many a glimpse of what could be on the horizon from iPhone sales though many had disregarded the numbers because the phone was only available for two days in AT&T’s quarter.
