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Financials Rebound, Short-Covering Could Lift Stocks

By Gary Douglas Smith

 About this article:
 JTX, AEO, TECD, SPLS, DBRN, TLB, PBY, SMTC, CENT, HDL, PLL, ADI and MRVL are companies of note reporting earnings today. Consumer Confidence for November will likely come in around estimates of 91.0. The Fed's Evans speaking, Fed's Plosser speaking, weekly retail sales reports, S&P/CaseShiller Home Price Index, Richmond Fed Manufacturing Index, CSFB Tech Conference, Piper Jaffray Healthcare Conference, Friedman Billings Investor Conference, Lazard Healthcare Conference, JPMorgan Homebuilding & Building Products Conference, CIBC Mid & Small Cap "Best Ideas" Conference and Merrill Lynch Health Services Conference could also impact trading today. Last night, Citigroup announced that it had sold as much as a 4.9% stake in itself to the Abu Dhabi government for $7.5 billion. This could provide a much-needed confidence boost to the stock and the heavily shorted financial sector. The NYSE reported last Wednesday that total short interest on the exchange rose another 3.8% over the...

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