Equities have thus far been on a record run in 2013 but, as any
student of stock market history can tell you, after the bubble
comes the Baath
(INDEXDJX:.DJI), now down in eight of the past 10 sessions, tumbled
to a two-month low amid an increasingly scary situation in Syria.
Commodities were a clear beneficiary, with bullion now officially
in a bull market from its June swoon after adding on another 2%.
(They will find this all a bit bizarre in the great bazaar of
Damascus, where gold has been sold for some 5,000 years.) With such
an ancient history, the Middle East has always taken the long-term
view. As they say in Afghanistan, "
The West has all the watches, but we have all the
." Maybe, but
) did just jump 10.50% to an all-time peak. Elsewhere
Abercrombie & Fitch
) fell a further 4.76%, closely followed by a 4.56% plunge in
Chloraseptic and Luden's cough drops parent
). For the contentious CEO of the clothing company, the corpulent
lassie - if not yet singing - is
clearly starting to clear her throat
Today in economics, analysts expect an increase in July pending
home sales at 10:00 a.m. Eastern. In earnings action,
(ZLC) are all due to release results.
(DEG): Citigroup boosts the Belgium-based grocer to Buy from
Neutral, sending its stock up ahead of the opening bell.
Old National Bancorp
(ONB): Shares are moved to Outperform from Market Perform at FIG
(STO): The Norwegian energy giant, whose shares are sharply higher
ahead of the open, is now Buy from Neutral at Bank of
America-Merrill Lynch. Shares are surging some 3% as a result of
the broker boost.
Stifel Financial Corp.
(SF): Raymond James raises the regional financial firm from
Judy Garland's favorite city of St. Louis
, Missouri to Outperform from Market Perform.
Tortoise Energy Infrastructure Corp.
(TYG): Stifel takes TYG to Buy from Hold with a $47 price
objective, which says it trades at an attractive 94.4% to Adjusted
NAV (Net Asset Value.)
(USG): Longbow lifts the building materials outfit to Buy from
New Stock Coverage: Can Gym Giant Nautilus Keep You
Stock Downgrades: Don't Buy Taser International,