Stocks rose for a second day, lifting the major averages to
weekly gains as the White House and Congressional leaders continued
work on legislation to raise the national debt limit and reopen the
federal government. All 10 industry sectors in the S&P 500
ended with gains as investors largely shrugged off new data showing
consumer sentiment falling to its lowest levels since January,
instead extending a broad-based rally that began yesterday and
snapping a two-week losing streak for equities.
Consumer sentiment as measured by the Thomson Reuters/University
of Michigan index fell to a preliminary score of 75.2, down from
last month's 77.5 reading. Also today, U.S. retail sales last month
missed analysts' estimates, with the private Retail Metrics gauge
of same-store sales rising 4.0% in September, boosted by strong
performance of drug stores last month. The market consensus was
expecting a 4.1% rise.
Commodities were mixed. Crude oil for November delivery settled
99 cents lower at $102.02 per barrel while November natural gas was
up 5 cents to $3.77 per 1 million BTU. December gold finished
$28.60 lower at $1,268.40 per ounce while December silver slid 64
cents to $21.25 per ounce. December copper added 2 cents to $3.27
Here's where the U.S. markets stood at end-of-day:
Dow Jones Industrial Average up 111.04 (+0.73%) to 15,237.11
S&P 500 up 10.64 (+0.63%) to 1,703.20
Nasdaq Composite Index up 31.12 (+0.83%) to 3,791.87
Hang Seng Index up 1.16%
Shanghai China Composite Index up 1.70%
FTSE 100 Index up 0.88%
(+) SCTY, Expects to deploy between 475 megawatts and 525
megawatts of solar panels in 2014.
(+) SSW, Terminates previously announced public offerings of
common stock and convertible notes, saying it would not be in the
best interests of its shareholders.
(+) INFY, Reported Q2 earnings of $0.73 per American depository
share, ex one-time items, beating the Capital IQ consensus by $0.02
(-) SGI, Preliminary Q1 earnings trail prior forecasts by at
least $0.04 and lag Wall Street expectations by $0.05 per share or
(-) GPS, Apparel retailer reports September net sales were
essentially flat compared with year-ago levels; Same-store sales
fall 3.0% last month.
(-) MU, Chip-maker reduced to Underperform from Market Perform
at Wells Fargo.
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