Labor day weekend is now behind us and with that Wall Street is coming back to work. Expect a steady uptick in volume throughout the rest of the week.
As far as market summaries go, the best today comes from Fox Business, “The broad S&P 500 closed to the downside after an unexpectedly weak manufacturing report spooked traders. However, rallying Apple shares helped boost the tech-heavy Nasdaq.” More detailed analysis on today’s weak ISM numbers can be found at Bespoke. The NASDAQ rallied into the afternoon to close up .3% thanks to Apple’s +1.5% day and the S&P 500 finished down .1%.
Looking ahead later in the week, the European Central Bank is set to meet on Thursday and investors will be looking for more bullish news from ECB President Mario Draghi. For some realistic analysis on the matter, head over to ZeroHedge. Also, Amazon (AMZN) is expected to announce its next version of the Kindle Fire Thursday.
Updated market analysis below alongside a look at one particular new IPO worth keeping an eye on. Stay frosty out there and we will see you back here tomorrow.
And here is a look at freshly minted IPO (late March 2012) Annie’s (BNNY) stock which looks poised to break out to new highs above $45. The company manufacturers over 125 types of natural and organic food (my wife and I love their popcorn), and is a play off the organic market, ie Whole Foods (WFM) trend.