Oil prices are rallying on new hopes of an output freeze. The latest here is that Russia and Saudi Arabia are talking about stabilizing prices. This is raising hopes for a solution to the massive glut in the oil industry are rising. Crude oil prices are now at a 3 week high. Honeywell ( (HON) ) could be becoming more of a software company. The Wall Street Journal says it's nearing a deal to acquire JDA Software , a maker of software that helps businesses manage supply chains. The deal would value JDA at around $3 billion, including debt. The deal could be announced as soon as today. Apple ( (AAPL) ) is said to be readying another iPad Pro. An Apple analyst says the company will release a trio of new iPads in 2017, including a new size 10.5 inch iPad Pro and a 'low cost' 9.7 inch iPad. While sales of the iPad were declining overall, demand is surging from businesses and government.
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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.