Market Wrap-Up for July 27 (DD, CMI, X, ABC, NEM, more)

Filed in dividend, earnings, Gold, Gold Investing, Gold Investment, shares, ubs by on July 27, 2010 0 Comments

The markets were set for gains early today, but the Consumer Confidence Survey number came out and took the some air out of the stock market’s sails. The Conference Board, a private research group, said Tuesday that its Consumer Confidence Index slipped to 50.4 in July, down from the revised 54.3 in June. The decline follows last month’s nearly 10-point drop, from 62.7 in May, which marked the biggest since February, when the measure also fell 10 points. A lot of the concerns are wrapped around disappointing job figures and a weak housing market. Government stimulus plans are starting to get pulled in several areas, but we did see the approval to extend unemployment benefits last week. We know Washington loves to push consumers to spend, but hopefully there is a bit of saving going on as well. The new monthly dividend income generator on our site is a tool we hope inspires investors to start putting together a plan to build for future endeavors, retirement, and also to take the emphasis off the hope and prayers of Social Security being one’s savior. Looking at today’s market, DuPont ( DD ) and Cummins Inc ( CMI ) were a couple of earnings winners. On the flip-side, U.S. Steel ( X ) and AmerisourceBergen ( ABC ) both were lower following disappointing results. Gold-related shares pulled back as investors worry the recent consolidation in the sector is lasting longer than they are comfortable with. It’s always tricky for investors that have been climbing aboard a trend. With little dividend support, one has to be disciplined not to overstay their welcome if certain sectors run up for an extended period of time. I’m not sure the gold run is over, but we certainly don’t see dividend stock opportunities there for yield-seeking investors. Newmont Mining ( NEM ) and Agnico-Eagle Mines ( AEM ) were two stocks helping push the sector lower today. We’ll be sure to keep Premium subscribers posted as to any updates we are making to our “recommended” list. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Market Wrap-Up for July 27 (DD, CMI, X, ABC, NEM, more)

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