U.S. stocks were higher today, with the S&P 500 and the Dow
Industrials closing at a record high. Gains were supported by
mostly improved Q3 company earnings and expectations the Federal
Reserve's Federal Open Markets Committee will conclude its two-day
meeting tomorrow leaving its $85-billion monthly stimulus efforts
in place for the foreseeable future. Nearly all industry sectors in
the S&P 500 advanceds, led by shares of consumer staples and
technology companies. Energy stocks also flourished despite a small
drop in crude oil prices today while financial stocks lagged the
Trading for some Nasdaq-listed index securities were temporarily
halted this afternoon after the securities exchange's Global Index
Data Service was disrupted before resuming normal operations at
12.37 pm EDT. The glitch affected two of the market's more closely
watched indices - the Nasdaq 100 and the Nasdaq Composite - forcing
a brief shutdown in trading of securities linked to those
NDAQ officials said they were investigating the issue, adding no
equity exchange operations were affected by the shutdown.
In economic news today, inflation unexpectedly eased at the
wholesale level with the Labor Department reporting its producer
price index declined 0.1% during September after rising 0.3% in
August. The market consensus was looking for for a 0.2% gain.
Excluding food and energy, prices firmed 0.1%, matching
expectations, following no change in August.
But home prices, as measured by the S&P/Case-Shiller index,
continued to pick up new steam in August, with the 20-city index
rising an adjusted 0.9% compared to a 0.6% rise during the prior
month. It was the first monthly pickup since April when prices
jumped 1.7 percent.
The year-on-year rate is showing extra strength, gaining 12.8%.
City data also showed a clean 20-city sweep of monthly gains.
Also, business inventories rose 0.3% during August, the Commerce
Department reported today, possibly indicating modest industrial
re-stocking was underway this summer that could provide a lift in
Q3 GDP growth. July inventories rose 0.4%.
Commodities were mostly lower. Crude oil for December delivery
fell 48 cents to settle at $98.20 per barrel while November natural
gas was down 7 cents to $3.50 per 1 million BTU. December gold slid
$6.60 to $1,345.30 per ounce while December silver was down 3 cents
at $22.49 per ounce. December copper added a penny to settle at
$3.28 per pound.
Here's where the U.S. markets stood at end-of-day:
Dow Jones Industrial Average up 111, or 0.7%, at 15,680
S&P 500 up 9, or 0.6%, at 1,771
Nasdaq Composite Index up 12, or 0.3%, at 3,952
Hang Seng Index up 0.18%
Shanghai China Composite Index down 0.23%
FTSE 100 Index up 0.71%
(+) ONP, Sees Q3 EPS of $0.30 on $37.7 million in revenue, up
from a $0.24 per share profit in the year-ago quarter on $37.7
million in revenue.
(+) NTRI, Q3 revs of $85.4 mln beat Capital IQ consensus by $3.4
mln. EPS of $0.15 tops expectations by $0.02 per share.
(+) JLL, Q3 Adjusted earnings of $1.49 per share soundly beats
estimates looking for $1.40 per share.
(-) DCO, Q3 EPS misses by $0.04; revenue also trails
(-) EROC, Decreases quarterly distribution by 32% to $0.15 per
(-) SAMN, Guides Q1 EPS, revenue below consensus, overshadowing
$0.06 per share beat with Q4 earnins.
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