Ending four days of losses, markets
rallied Tuesday afternoon
to close higher. Despite taking back some losses, investors are
still cautious after losses in Asia last night.
News was light on the economics front, but several retail
companies reporting second quarter earnings led the way for
higher volume than we have been seeing over the past few trading
The Dow Jones Industrial Average fell 5.91 points, or 0.04
percent, to 15,004.83.
The S&P 500 gained around 6.44 points, or 0.39 percent, to
The Nasdaq picked up a little better than 24.5 points, or 0.68
percent, to finish at 3,613.59.
Mexico's GDP grew less than expected this quarter at 1.5
percent. Economists were looking for 2.32 percent growth, but the
rate was faster than the previous quarter's 0.8 percent.
Crude oil futures
traded down on Tuesday
, likely because delivery date is approaching and NYMEX traders
are rolling contracts over to the next month. WTI was down two
percent heading into the close to $104.96 while brent was up 0.2
percent to $110.12. Natural gas is down almost one percent to
After rallying last week, gold prices continued upward
Tuesday. At last check gold was up 0.55 percent to $1,373.20.
Silver futures were down for the day at $23.13. Platinum was
other big metal mover today, up nearly one percent to $1,521.10
Cotton took a beating today, down more than four percent with
ICE Cotton futures trading at $88.86 nearing the close. Grains
were also down with corn and wheat trading down 2.06 percent and
1.15 percent, respectively.
Long-term Treasuries trended lower today. Near the equities
close, the 30 year note was down 1.26 percent.
Treasury yields were as follows in afternoon trade on Tuesday:
The 5-Year Note was yielding 1.543 percent and the 10-Year Note
yield was sitting at 2.184 percent. The 10-Year Note and 30-Year
Bond was yielding 3.583 percent.
Heading into the closing bell, the U.S. Dollar was slightly
lower. At last check, the PowerShares DB US Dollar Index Bullish
), which tracks the United States Dollar versus a basket of
foreign currencies, was down 0.46 percent to $21.87.
The closely watched EUR/USD pair was up 0.64 percent to
$1.3421. Other movers included the USD/CHF, which fell 0.75
percent and the EUR/GBP, which added 0.49 percent on the day.
Best Buy Co (NYSE:
) shot up
12.43 percent to $34.55 on strong
second quarter earnings. Shares of Urban Outfitters (NASDAQ:
) moved up 8.42 percent to $43.29 after the company reported
better-than-expected second-quarter earnings. Analysts at Wedbush
upgraded the stock from Neutral to Outperform.Goodrich Petroleum
) traded up, gaining 11.08 percent to $23.16, as shares rallied
on strong technicals in the face of an oil downturn.JC Penney
) was extremely volatile today and was up 5.94 percent nearing
the close at $14.01. Shares of Dick's Sporting Goods (NYSE:
) fell after missing earnings. At last check it was trading at
$46.65, down 7.67 percent.Barnes & Noble (NYSE:
) shares tumbled 12.63 percent to $14.57
after the company reported
a wider fiscal first-quarter loss.Zillow (NASDAQ:
) was down, falling 4.47 percent to $80.95
after the company priced an offering
of 5,023,486 shares of its Class A common stock at $82.00 per
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advice. All rights reserved.
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