RPT-STOCKS NEWS-Market seen vulnerable if S&P 500 breaks 1,072

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1455 EST 4Feb2010
Market seen vulnerable if S&P 500 breaks 1,072

According to Richard Ross, global technical strategist at Auerbach Grayson, the S&P 500 has to close above the 1,072 level on Thursday. If that is breach there is a potential for move down to 1,050 level. And if that level subsequently fails, the index could test 1,036 -- which is right at the low-end of the Nov-Dec trading range.

'The uptrend (from March 2009) is still in place but there are signs that the market is fast deteriorating,' he said. The S&P 500 was at 1,069, off 2.6 percent in early afternoon trading on Thursday. Earlier it hit an intra-day low of 1,067.35.

The S&P 500 has fallen 6.9 percent from its 15-month closing peak of Jan 19.

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1355 EST 4Feb2010
Hoenig:Firms cannot extend themselves and expect bailout

Kansas City Fed Bank President Thomas Hoenig said Thursday firms cannot extend themselves with excess leverage and expect to get bailed out.

He also said he sees 2010 U.S. economic growth in the 3.25 percent range.

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1332 ET 04Feb2010
Wall St seen at a critical juncture, payrolls key

The sell-off of the last two weeks has left Wall Street's technical footing severely compromised, raising the risk of more losses if Friday's report on January nonfarm payrolls disappoints, analysts said on Thursday.

'From a technical perspective, the DJIA and the S&P 500 remain in the middle of what we call a transitional zone, or consolidation range, after spending months solidly entrenched in a well defined and statistically stable uptrend channel,' said Fred Dickson, chief market strategist at Davidson Cos. in Lake Oswego, Oregon.

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1306 EST 4Feb2010
Burger King rises after results, peers fall

Shares of Burger King Holdings rose on Thursday after the company reported second-quarter earnings that beat expectations and posted a 2 percent rise in sales.

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The stock gained 5.1 percent to $18.40. Among its peers, McDonald's Corp fell 1.2 percent to $64.41 and Yum! Brands, the operator of the Taco Bell chain, sank 4.1 percent to $33.90.

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1204 ET 04Feb2010 US STOCKS
Sovereign debt fears, economy sink Wall St

U.S. stocks tumbled on Thursday as the number of Americans claiming jobless benefits rose unexpectedly and renewed fears of sovereign debt problems in Europe led investors to dump riskier assets.

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1154 EST 4Feb2010
Lawmaker seeks quick review of Comcast, NBC deal

The chairman of a congressional panel urged regulators to expeditiously conduct their review of a proposed joint venture between Comcast Corp and NBC Universal.

'The companies deserve an answer in a timely manner,' said Rick Boucher, chairman of the House Energy and Commerce Subcommittee on Communications, Technology and the Internet.

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Shares of Comcast fell 1.7 percent to $15.70.

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