The S&P 500 again closed at a record high Wednesday as
stocks rose for a fourth day in row, supported by rising
expectations the March employment report later this week will show
an improving jobs market. Mining and materials stocks and shares of
consumer discretionary companies led equities higher today after a
new report showed private employers added nearly 200,000 new
workers last month. Manufacturing activity also showed continued
strength in a new report.
Blue-chips also rallied Wednesday, with the Dow Jones Industrial
Average trading in record territory for much of the session only to
slip back under its previous high just before the close.
Atlanta Fed President Dennis Lockhart, speaking this afternoon
at a business event in Miami, said the U.S. economy would need to
be growing at a 3% annual pace for the central bank to consider
raising interest rates. He also said the slump earlier this year
increasingly looks to be largely weather-related, saying economic
activity should continue to improve along with the advance of more
U.S. private employers added 191,000 workers in March, according
to the ADP National Employment Report, narrowly trailing the market
consensus looking for 195,000 new hires. Also, February factory
orders swelled 1.6%, topping estimates for a 1.2% gain, led by
gains in aircraft orders, defense capital goods and autos.
Crude oil for May delivery slipped 12 cents to settle at $99.62
per barrel while May natural gas was up 9 cents at $4.36 per 1
million BTU. June gold rose $10.90 to finish at $1,290.80 per
Here's where the U.S. markets stood at the end of today's
Dow Jones Industrial Average up 40.39 (+0.24%) to 16573.00
S&P 500 up 5.38 (+0.29%) to 1890.90
Nasdaq Composite Index up 8.42 (+0.20%) to 4276.46
Hang Seng Index up 0.34%
Shanghai China Composite Index up 0.56%
FTSE 100 Index up 0.10%
(+) MNKD, FDA advisory panel overwhelmingly recommends the full
agency approve the company's Afrezza inhaled insulin powder to
improve glycemic control in adults with Type 1 or Type 2
(+) HRS, Shares climb to new record high after the
communications equipment company announced $49 million in new
orders for its highly secure two-way handheld radios by an
unidentified Asian government for its national security forces.
(+) ENVI, Said it will provide compression and encryption
technology for high-definition premium live sports channels for a
Tier 1 service provider in Europe on Apple (
(-) UNF, Fiscal Q2 earnings, revenue trail analyst estimates
while projected FY14 EPS also lags Wall Street expectations by at
least $0.16 per share.
(-) APOL, Receives Education department subpoena seeking details
of its marketing and recruitment activities. Q2 revenue declines
18.6% year over year to $679.1 mln, trailing consensus view by
around $9.92 mln. Q2 EPS tops estimates.
(-) AGEN, GSK stops Magriti study using its adjuvant product
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