Shares of Lumber Liquidators (LL) jumped at Friday's open after the company agreed not to resume sales of laminate flooring made in China, which were halted last year. As part of a broader recall program, Lumber Liquidators also agreed to continue to test Chinese-made laminate flooring in households and provide remediation if the flooring is found to emit elevated levels of formaldehyde, according to a statement released by the U.S. Consumer Product Safety Commission. The company has been a target of short-sellers, most famously Whitney Tilson, who shorted shares due partly to the levels of formaldehyde found in its flooring.
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.