The U.S. stock market surged higher Thursday on strong global
economic data. China, the Eurozone, and United States all beat
Bullish news came from several automakers who reported their
vehicle sales today. Ford (NYSE:
), General Motors (NYSE:
), Chrysler and Nissan (OTC:
) led the way with double digit gains.
Major Averages The Dow Jones Industrial Average rose 128.48
points, or 0.83 percent, to close at 15,628.02. The S&P 500
added 21.14 points, or 1.25 percent, to finish at 1,706.87. The
Nasdaq rose 49.37 points, or 1.36 percent, to finish at
Manufacturing Data ISM manufacturing data
sent global markets higher today
. Kicking off the party was China, which showed growth
significantly stronger than expected. In addition, the Eurozone
showed growth for the first time in two years. The United States
showed growth, but the price paid index fell.
Crude oil futures soared on Thursday
. At last check, NYMEX crude futures were trading up 2.64 percent
to $107.80. Brent crude futures gained 1.67 percent and were
trading at $109.50. Following the release of natural gas
inventories, the commodity traded down 1.48 percent.
Precious metals recorded modest losses on the session. COMEX
gold futures had shed 0.24 percent to $1,309.90 while silver
contracts were last down 0.12 percent to $19.61.
In the grains complex, both corn and wheat fell on the day.
Corn futures dropped 2.51 percent while wheat lost 0.94
Bonds Treasuries were close to unchanged on Thursday. Near the
close, the iShares Barclays 20+ Year Treasury Bond ETF (NYSE:
) was down a huge 2.24 percent to $105.01.
Yields were as follows on the day. The 2-Year Note yield was
sitting at 0.32 percent. The yield on the 5-Year Note was 1.375
percent. The 10-Year Note and 30-Year Bond were yielding 1.75
percent and 2.875 percent, respectively.
Currencies The U.S. Dollar picked up value today, roughly one
percent higher according to the PowerShares DB US Dollar Index
Bullish ETF (NYSE:
) which tracks the performance of the greenback versus a basket
of foreign currencies.
The closely watched EUR/USD pair was last down 0.71 percent to
$1.3208. Other movers included the USD/JPY, which added 1.62
percent and the USD/CAD, which picked up 0.67 percent.
Volatility and Volume The CBOE Volatility Index was
significantly lower Thursday. At last check, the widely watched
measure of volatility expectations had fallen 2.75 percent to
13.07. Despite one of the busiest earnings days of the quarter,
volume was low today with roughly 90 million shares of the SPDR
S&P 500 ETF (NYSE:
) traded, approximately 25 percent lower than the three month
Stock Movers Shares of Yelp (NASDAQ:
) had climbed more than 25 percent heading into the close. This
comes after the company reported
better than expected earnings
) is up almost 20 percent today following
strong second quarter results
. Shares almost crossed the $46 level. Up 11 percent heading into
the close, Ruckus Wireless (NYSE:
) reported strong second quarter results, beating the analyst EPS
estimate by 67 percent.JC Penney (NYSE:
) is seeing volume four times higher than average after the
claimed a credit rumor
posted yesterday is false.Halozyme Therapeutics (NASDAQ:
) traded down 17 percent on VPHM update.Sun Power (NYSE:
) is down more than 13 percent heading into the close after the
company reported weak third quarter guidance.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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