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Does 2Q Spell End to Rally?

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  • Description

    FBN’s Sandra Smith breaks down whether the market can maintain the gains from the beginning of 2012.

  • Duration 2:02
  • Date

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This transcript is automatically generated

Strange.

And and data McConnell very specific -- wanna look at the S&P 500 on an inter day basis because a lot of traders are looking at this selloff after the spectacular gains of the first quarter and asking themselves.

Even over what guess what we're at thirteen 62 right now in the S&P 500.

A lot of traders are using a support level of thirteen 57 in the S&P.

Meaning if -- able to hold on to that level even despite the sell off today.

It could be good news for the bulls and means this market might be able to hang on and move higher after today's sort of correction mode.

For the market.

That being said there are some bright spots for the market take a look at DR Horton the homebuilders -- getting a lot of attention in -- fashion.

Guess what the average price target for the stock right now.

Sixteen dollars sixteen cents a share through a lot of optimism here had great earnings.

The company has been -- this action now down about twelve cents at the broader market the -- a lot of positive attention being drawn -- -- company today.

Also look at Xerox XR axis is another bright spot for the markets today Xerox reporting earnings in line with expectations but what was key for this company guys.

Is that the company was rethink its second quarter guidance.

A lot of folks looking for the guidance of these companies not necessarily just the recent quarter performance that stock now trading at over eight dollars a share up a couple percent for the session.

And data mentioned each Brinker International this is that -- MIG analysts changed company.

This -- a big one to watch guys because there's been a lot of concern about these restaurant chains being able to battle those higher input ingredient costs look at this Brinker International shares up 8% on the session.

And got something to look for a cure all have this in the next hour earnings after the bell tonight you're gonna wanna watch Netflix look at a 102 dollars.

And fifty cents a share down 3% on this action.

Lot of concern heading into that earnings report after the bout tonight the -- Connell I don't have to tell you guys that sometimes.

When you get this really pessimistic anticipation for a company report after the about him sometimes -- nice pop -- it actually performed in line.

Or above expectations the stay tuned for that one.

Now have a preview of that in the next that our --

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