Johnson Controls (JCI) was among the best performers on the S&P 500 Wednesday after announcing it is exploring a strategic separation of its automotive business. The company is reportedly also considering purchasing air-conditioning company Lennox International (LII). It was a great day on Wall Street with benchmark indexes closing above 1% and the Dow notching a 230-point increase. Those big gains were kicked off by higher crude oil but solidified after good news out from Greece. The ECB said Wednesday it had raised the amount the Greek central bank can loan to national banks, its largest weekly increase since mid-February.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.