U.S. markets closed at record highs after initial jobless claims
fell to a five-year low, with the S&P 500 climbing past 1,700
for the first time ever. Industrial stocks led stocks higher after
manufacturing data from China, Europe and the U.S. all showed
robust growth. The Dow Jones Industrials Average also posted
triple-digit gains, despite disappointing earnings today from
component company Exxon Mobil Corp, which saw Q2 net income fall
57% from the same quarter last year.
Economic data today was overwhelmingly bullish as initial claims
fell by a greater-than-expected 17,000 to 326,000 during the week
ended July 27. The July purchasing manager's index improved to
53.7, above Wall Street estimates of a gain to 53.1. And while
construction spending fell 0.6% in June compared with estimates
calling for a 0.4% increase, the number was all but ignored when
the Markit ISM index jumped to 55.4 reading, well above the
consensus for a gain to only 53.1 from 50.9 in June.
The European Central Bank and the Bank of England both ended
policy meetings earlier today by leaving interest rates at record
lows, less than a day after the U.S. Federal Reserve said the U.S.
economy still needs help and also would keep its stimulus measures
Commodities were mixed. Crude oil for September delivery cents
continued its recent surge, rising $2.86 to settle at $107.89 per
barrel while September natural gas was down 6 cents to finish at
$3.39 per 1 million BTU.December gold fell $2.00 to $1311 per
ounce. September silver settled unchanged at $19.63 per ounce and
September copper rose 4 cents to $3.16 per pound.
Here's where the U.S. markets stood at end-of-day:
Dow Jones Industrial Average up 128.48 (+0.83%) to 15,628.02
S&P 500 up 21.14 (+1.25%) to 1,706.87
Nasdaq Composite Index up 49.37 (+1.36%) to 3,675.74
Hang Seng Index up 0.94%
Shanghai China Composite up 1.77%
FTSE 100 Index up 0.92%
(+) ZLTQ, Medical-device company narrows its Q2 net loss from
year-ago period by $0.14, posting a net loss of $0.10 per share and
beating analyst expectations by $0.08 per share. Quarterly revenue
also topped Street view.
(+) SFM, Super-market chain soars in first day as a publicly
traded company after pricing initial public offering of 18.5
million shares at $18 apiece - $3 above the mid-point of its
expected $14 to $16 per share range.
(+) TRLA, Home-buyer research service reporta Q2 earnings and
revenue that topped estimates. Also provides upside revenue
guidance for Q3.
(-) HGR, Q2 EPS misses by $0.04 while revenue was in-line with
market projections. Raises FY13 EPS guidance, staying in-line with
estimates. FY13 revenue forecast also in-line.
(-) ELNK, Reports wider-than-expected net loss of $0.11 per
share, trailing estimates by $0.07 per share.
(-) SBH, Q2 earnings of $0.42 per share miss by a penny.
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