LM Live! Report for Monday, November 2 We saw a classic roller-coaster day on Wall Street today as stocks surged higher at the open, pulled back during the middle of the day and then surged back higher to close the session. At the end of the day, both the S&P 500 and the Dow Jones Industrial Average closed 0.65% and 0.79% higher, respectively. Typically, we see roller-coaster days like this when the market is unsure what to do with the news it receives. Today, the market got better-than-expected news from the ISM Manufacturing report---which came in at 55.7 instead of the expected 53.1---the Pending Homes Sales report---which came in at 6.1% instead of the expected 0.2%----and the Construction Spending report---which came in at 0.8% instead of the expected -0.3%. This was difficult news for the market to digest initially because the news was much better than expected---which is a good thing for the stock market---but traders were coming off of a disappointing week last week and most likely still had some negative feelings about the future outlook for the market. After all was said and done, however, traders decided to let last week fade into the past, and they jumped on the new, positive data to push stock prices back higher. Preparing for Tuesday Keep your eyes on the earnings announcements for the following companies: - Archer Daniels Midland Company (ADM) - Cognizant Technology Solutions Corp. (CTSH) - Marathon Oil Corporation (MRO) - Marvel Entertainment (MVL) - MasterCard Incorporated (MA) - Polo Ralph Lauren Corporation (RL) - Royal Carribean Cruises (RCL) - Teva Pharmaceutical Industries (TEVA) - Viacom Inc. (VIA.B) Also keep your eyes on the following Economic Indicators: - Factory Orders - Auto Sales |