Closing Update: Stocks Extend Streak to Day Five on Improved Consumer Sentiment, Manufacturing

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Wall Street was on auto-pilot before tomorrow's Thanksgiving holiday and Friday's shortened session, although all three indices managed to hold onto modest gains that included a fresh 13-year high for the Nasdaq. Volume was roughly one-third third its average, but strong earnings from Hewlett-Packard ( HPQ ) and upbeat data on consumer sentiment and regional manufacturing activity provided early gains that largely held. However, with the markets closed Thursday, and Friday the last trading day of the month, month-end window dressing contributed to the slight drift off the highs, leaving stocks on the plus side but off their best levels of the day.

Today's economic calendar included everything from October durable goods orders (-2.0%) to leading indicators (+0.2%). But it was the data from the Midwest that generated the most interest. The Chicago Fed reported that their national activity index tumbled to -0.18 from a positive 0.18 the month prior. But fortunately, this was overshadowed by better than expected Chicago PMI and Reuters/Univ of Michigan consumer sentiment index, the latter improving to 75.1 from October's 72.0.

Here's where the markets stand at the close:

US MARKETS

Dow Jones Industrial Index was up 24 points, or 0.2%, to 16,097.33

S&P 500 was up 4 points, or 0.3%, at 1,807.23

Nasdaq Composite Index was up 27 points, or 0.7%, at 4,044.75

GLOBAL SENTIMENT

FTSE 100 was up 0.20%

Nikkei 225 was down 0.42%

Hang Seng Index was up 0.53%

Shanghai China Composite Index was up 0.82%

UPSIDE MOVERS

PZN, JP Morgan upgraded the stock to Overweight rating from Neutral and raised its price target $2.

CRDS, The company filed a suit against Dell Inc ( DELL ) and other rivals alleging they are infringing on three of the company's patented technologies..

BIOS, Drugstore CVS ( CVS ) announced it was buying the Coram division of privately held Apria Healthcare, a competitor of BioScrip.

DOWNSIDE MOVERS

TLYS, Downgraded by analysts at SunTrust Robinson Humphrey to a Neutral rating from a Buy.

BLOX The company reported as expected Q1 revenue and beats EPS, but revised Q2 and FY 2014 guidance lower

BRLI, The company expects Q4 EPS of $0.40, below estimates for $0.55 and

FY EPS at $1.65, missing forecasts for $1.79.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: CVS , DELL , HPQ

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As of 10/21/2014, 01:23 PM

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