The stock market squeezed out a modest gain and closed on the
plus side for the fourth consecutive day as U.S. federal budget
developments continue to manipulate global finance markets. A
triple-digit loss in the Dow at the open eventually evaporated as
demand for equities materialized following a joint statement from
Senate leaders Harry Reid and Mitch McConnell that fueled hopes for
a resolution before Thursday's deadline. The Dow Industrial closed
above the 50-day moving average for a second straight day helping
to turn momentum indicators positive for all three indices.
Because of the Columbus Day holiday, the bond market was closed
Treasury did not conduct their regular weekly auction of 3 month
and 6 month
bills. No economic data was released.
Here's where the markets stand at the close:
Dow Jones Industrial Index was up 64, or 0.4%, to 15,301.26
S&P 500 was up 6, or 0.4%, to 1,710.14
Nasdaq Composite Index was up 23, or 0.6%, to 3,815.28
FTSE 100 was up 0.32%
Nikkei 225 was closed
Hang Seng Index was closed
Shanghai China Composite Index was up 0.43%
NFLX, Netflix in discussions with major cable-television
operators to add its streaming video service to set-top boxes.
FU, Fab Universal rallied on the heels of an endorsement by
Quantum Fund co-founder Jim Rogers' endorsement.
SWIR, Sierra Wireless has acquired all of the assets of AnyDATA
Corporation's machine-to-machine embedded module and modem
EXPE, Downgraded by Deutsche Bank to Hold from Buy and the price
target was slashed 22%
CNDO, Company's phase 2 clinical trial evaluating its TSO drug
in 250 patients with moderate-to-severe Crohn's disease didn't meet
its primary endpoint of improving response or he key secondary
endpoint of remission.
FICO, Cut full fiscal year GAAP EPS to $2.47 and $2.51 per
share, lower than the full-year GAAP earnings per diluted share
guidance of $2.61 to $2.70 and expectations for $2.81.
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