Towards the end of trading Wednesday, the Dow traded down 0.17
percent to 13,080.49 while the NASDAQ fell 0.23 percent to
2,983.60. The S&P also fell, decreasing 0.27 percent to
As a heads up for the week, we have now entered the most busy
period of earnings season, so watch for some serious price
The Defense sector proved itself in a major way this morning, as
both Lockheed Martin (NYSE:
) and Boeing (NYSE:
) posted solid earnings beats in revenue and EPS. While the
threat of defence cuts looms, both companies show no signs of
weakness as they provided strong guidance for the
Equities Trading UP
) remained up 18.67 percent at $23.14 after the company posted an
EPS miss, but a revenue beat after the close yesterday.
Monster Beverage (NASDAQ:
) posted a 15.56 percent rally to $47.47 Wednesday after the
company released a statement underlining the safety of its
Shares Silicon laboratories (NASDAQ:
) rose 14.21 percent to $41.24 following positive third-quarter
Equities Trading DOWN
Tempur Pedic (NYSE:
) remained down 19.86 percent at $25.54 after the company posted
lower than expected revenue guidance after the close
) fell 18.78 percent to $18.39 following the release of lower
guidance than expected after the market close Tuesday.
Shares of Netflix (NASDAQ:
) regained some of its losses, be was still down 11.89 percent to
$60.11 after Jeffries and BMO capital markets lowered their price
targets on the company.
In commodity news, oil traded down 0.48 percent to $88.30, while
gold traded down 0.37 percent to $1,703.00.
Silver traded down 0.05 percent Wednesday to $31.74.
The European Central Bank's Mario Draghi made a strong defence
for the ECB's bond buying program this morning, telling German
politicians that their fears that the program would spur
inflation would not come to fruition.
There was also some confusion in Greece as the Greek Finance
Minister announced the Troika had agreed to extend the Greek
bailout, while German lawmakers said the opposite. As a result,
European markets managed to post a rally.
In economic news, MBA mortgage applications were -12.0 percent,
well below the prior figure of -4.2 percent.
New home sales came in at 389 thousand, slightly above the
expected 385 thousand and the previous figure of 368 thousand.
New home Sales month over month came in at 5.7 percent, far above
the expected 3.2 percent and the previous number of -1.3 percent.
Also, the FOMC decided to keep interest rates at 0.25 percent,
equal to projections and the prior level.
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