Updated from 6:59 a.m. EDT
It was all oil for quite some time. But with oil dropping sharply over the last week, housing took center stage again yesterday and revealed steeper than expected decline in existing home sales. That certainly put the market on its heels.
reported an $8.67 billion loss in the second quarter. This loss is comprised of $8.03 billion in write-offs as a result of declining North American Assets and Ford Motor Credit Co.'s lease portfolio. Taking into account the write-downs, Ford lost $3.88/share. The company plans to re-work its existing plants to meet consumer demand for fuel efficient cars.
reported much-better-than-expected second-quarter results and raised revenue guidance for the remainder of the year. But then right away,
warned on its fourth-quarter's numbers and guidance.
So we had a little bit of everything which again had the market somewhat neutral until housing jumped in the picture. So where do we go now?With this in mind, we thought it made sense to take the Top Most Searched Stocks on TheStreet.com from the prior trading day.
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A note from James Altucher: Every weekend I send an email to Jim Cramer and several hedge fund managers about the most interesting portfolios posted on Stockpickr that week. Usually those portfolios not only list stocks according to a theme but also offer significant analysis as to why the stocks are cheap. Here are some examples: Here's the challenge: Build a portfolio at Stockpickr.com with great analysis, and send me the link. Each great portfolio (with analysis) will get posted on TheStreet.com with your byline (as a "Stockpickr Guest Columnist") and will be included in my email I send to Jim and the other hedge fund managers on my list.