April 27, 2009 (FinancialWire) (By Genevieve Hawkins) — The rally finally ended for Wall Street last week, and anxiety over earnings reports from companies such as Sun Microsystems (NASDAQ: JAVA) and Exxon Mobile (NYSE: XOM) may lead the Dow below 8,000 in the coming days. A strong uptick last Friday saved an otherwise dismal week in which the Dow lost 0.7%, while the S&P 500 slipped 0.4% and the Nasdaq bucked the trend and rose 1.3%. For the coming several sessions investors will have droves of earnings reports to review, but the low expectations may not be enough to keep enthusiasm over a recovery alive for much longer.

Market watchers will also be waiting for news out of Washington regarding the widely touted bank stress tests being performed on 19 major institutions, and rumors related to increased capital requirements for financial companies could sink the indexes. The Federal Reserve is expected to hold interest rates steady at almost zero at their two day meeting in the coming week, but any statements or policy adjustments that emerge will be closely scrutinized. Economic reports for the coming week include information on February home prices, personal income and spending, gross domestic product and consumer confidence.

The rally that began in early March was largely based on enthusiasm that the sky wasn’t falling and not on any bullish trends, but that sentiment is starting to change. It may be that reports of a slowdown in the descent are no longer enough to promote ideas of a recovery in the second half of 2009. If that mood has changed amongst investors, then stocks will almost certainly fall in the near future.

The Investrend Earnings Calendar features Last session’s trading showed 32 advancers versus 16 decliners and two unchanged. Advancers were led by Amer Express Inc (NYSE: AXP) up 20.65%, Pmc (NASDAQ: PMCS) up 19.03%, Las Vegas Sands Corp (NYSE: LVS) up 18.53%, Juniper Networks, Inc. (NASDAQ: JNPR) up 15.94%, Keycorp (NYSE: KEY) up 14.01%, Ford Motor Co (NYSE: F) up 11.36%, Microsoft Corporation (NASDAQ: MSFT) up 10.52%, Host Hotels & Resort (NYSE: HST) up 9.86%, Ultra Real Estate Pr (NYSE: URE) up 8.64%, Financial Bull 3x (NYSE: FAS) up 7.13%, Brocade Communications Systems, (NASDAQ: BRCD) up 6.92%, Wells Fargo & Co New (NYSE: WFC) up 6.52%. Decliners followed Cit Group Inc (Del) (NYSE: CIT) down 11.51%, Ultrashort Real Esta (NYSE: SRS) down 9.69%, Financial Bear 3x (NYSE: FAZ) down 7.09%, Huntington Bancshares Incorpora (NASDAQ: HBAN) down 6.63%.

The Investrend Economics Calendar lists Treasury auctions 3&6-month bills (11:30 a.m.), Treasury auctions 2-year notes (1 p.m.).

The Investrend Events Calendar showcases AXP Shareholders Meeting; BA Shareholders Meeting; BR at Securities Industry Association Operations Conference; CBE Shareholders Meeting; HON Shareholders Meeting; MFE Shareholders Meeting; SBIB Shareholders Meeting; TOL Brothers Shareholders Meeting; WPI AUA Analyst Briefing.

The Investrend Money Index is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE/NASDAQ 50 Most Actives indicate the direction in which the mass of money is flowing. Last session’s trading showed 32 advancers versus 16 decliners and two unchanged. Advancers were led by Amer Express Inc (NYSE: AXP) up 20.65%, Pmc (NASDAQ: PMCS) up 19.03%, Las Vegas Sands Corp (NYSE: LVS) up 18.53%, Juniper Networks, Inc. (NASDAQ: JNPR) up 15.94%, Keycorp (NYSE: KEY) up 14.01%, Ford Motor Co (NYSE: F) up 11.36%, Microsoft Corporation (NASDAQ: MSFT) up 10.52%, Host Hotels & Resort (NYSE: HST) up 9.86%, Ultra Real Estate Pr (NYSE: URE) up 8.64%, Financial Bull 3x (NYSE: FAS) up 7.13%, Brocade Communications Systems, (NASDAQ: BRCD) up 6.92%, Wells Fargo & Co New (NYSE: WFC) up 6.52%. Decliners followed Cit Group Inc (Del) (NYSE: CIT) down 11.51%, Ultrashort Real Esta (NYSE: SRS) down 9.69%, Financial Bear 3x (NYSE: FAZ) down 7.09%, Huntington Bancshares Incorpora (NASDAQ: HBAN) down 6.63%.

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Quote of the Day: “I don’t want to play golf. When I hit a ball, I want someone else to go chase it.” Rogers Hornsby

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Happy Birthday: Samuel F. B. Morse, Ulysses S. Grant, Sergei Prokofiev, Rogers Hornsby, Jack Klugman, Coretta Scott King, Casey Kasem, Judy Carne, Cuba Gooding, Sr., Ace Frehley, Sheena Easton.

Today in History: The blind, impoverished John Milton sold the copyright of Paradise Lost for £10 in 1667. The British Parliament passed the Tea Act in 1773, designed to save the British East India Company by granting it a monopoly on the North American tea trade. Beethoven composed his famous piano piece, Für Elise, in 1810. The 1908 Summer Olympics opened in London. Babe Ruth Day was celebrated in 1947 at Yankee Stadium. “Love Me Do” by the Beatles was #1 for one week in the U.S. in 1964. The Superjumbo jet aircraft Airbus 380 made its first flight from Toulouse, France, in 2005.

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