Stocks held onto modest gains through the morning as the financial sector set up a rebound. Big banks such as JPMorgan (JPM) and Citigroup (C) were among the sector's best performers. VF Corp. (VFC) detailed its plans for the next five years, including returning $8 billion to shareholders. The owner of Timberland anticipates a five-year compounded annual growth rate of 4% to 6% through to 2021. Goodyear Tire (GT) was downgraded to NEUTRAL from BUY at Goldman Sachs. Analysts said the valuation was less attractive as the company faces pricing uncertainty. Billionaire hedge fund manager Bill Ackman has apologized for his investment in Valeant Pharmaceuticals (VRX) , calling it a "huge mistake" that cost Pershing Square a "tremendous amount." Ackman sold his stake earlier this month.
More from Video
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.
Breaking down an approach to the long side of this biotech stock.