(CAH, GS, CRWE, HF, CHG) Featured Stocks by CRWESelect.com
The good times must be back.
Porsche SE, the luxury sports car maker, announced this morning that its profit went up sevenfold in its first fiscal quarter ended October 31, 2010. Porsche reported a profit of 526 million dollars in the quarter on a 63% increase in car deliveries. (Interestingly, one-third of Porsche’s car deliveries in its last quarter were made in its home-base, Germany.)
Stock fell sharply lower after U.S. economic reports disappointed investors and rumors circulated that the Feds were going to look for criminal activity at Goldman Sachs.
Today’s break was initiated by a weaker than expected U.S. GDP report. Although the report showed that the economy expanded by 3.2%, economists were looking for an expansion of 3.3%.
Stocks Set to Open Better as Goldman Tensions Ease
U.S. equity markets are called better as tensions have eased regarding Goldman Sachs’ legal problems. Stock traders are also a little more optimistic because of the opening of some air routes in Europe. Technically, all three indices are currently retracing a little more than 50% of the recent decline. This is a key area as the markets are in positions to post secondary lower tops.