Wednesday was a day of "dramatic news but calm stock markets,"
Editor-at-Large Aaron Task says in
The Real Story podcast.
The drama included word that Iran would release 15 British sailors and marines. But any "peace dividend" was muted by the steep drop in gasoline inventories and weaker-than-expected economic news, Task says. The inventory news helped send gasoline futures up 3% and was good for refiners such as
; the data included ISM Services, factory orders and the ADP employment report.
Also grabbing headlines was consummation of the merger between the
and Euronext. Task's first guest, Marshall Carter, deputy chairman of the newly formed NYSE Euronext, says the newly formed exchange provides institutional investors what they want: choice, speed, anonymity and deep pools of liquidity. (Carter also addressed the NYSE's future expansion plans in a video interview that can be seen
As with every Wednesday, Task was joined by
David Peltier for their regular "Should I Do It?" segment, in which the two tackle listeners' questions about specific stocks. Wednesday's segment featured
In the remainder of the podcast, Task addresses the day's other corporate news, including
postclose results; earnings from
rebound from Tuesday's thrashing.
Task's third quest, Joe Capone, managing member and founder of SMaRT Financial Partners and
contributor, says Tuesday's "fire sale" in Jackson Hewitt created an opportunity, given the company's "great core business." (Capone also addressed potential winners and losers of the subprime mortgage mess in an video interview, which can be found
here to listen to the entire podcast.