Market Summary 7/26/2010

Stock Market Closing Prices – 7/26/10

Dow ( DJIA ) Close - 10525.43 +100.81
Nasdaq Close - 2296.43 +26.96
S&P 500 Close – 1115.01 +12.35

Commodities Closing Prices – 7/26/10

Gold Close - 1183.00
Oil Close – 78.89
Natural Gas – 4.61

The Dow is up 101 points.

A boost in guidance from FedEx and better-than-expected new-home sales give stocks a lift.

The rally was set off when FDX raised its outlook for fiscal 2011. Adding to the bullishness: a better-than-expected -- but still awful -- report on new-home sales.

As important, the index finished slightly above its simple 200-day MA for the first time since June 21. Technicians would view that as a sign of confidence. At least for now. Volume was light.

Futures trading suggests U.S. stocks will open modestly higher on Tuesday.

Economic Calendar Data 7/27/2010

U.S. consumer confidence for July at the Conference Board. 10 a.m.

Aetna is scheduled to release quarterly results. Before market open.
Lockheed Martin is scheduled to release results for the quarter. Before market open.
Occidental Petroleum is slated to announce quarterly results. Before market open.