Stocks finished slightly lower, ending a session where the major
market gauges drifted between small gains and losses on the
downside. Positive economic news today, including an impressive
gain in a regional manufacturing index, did little to influence
market direction as traders appeared content to sell into any small
rally. S&P 500 industry sectors were split between winners and
losers, with the best gains for consumer discretionary, while
financial stocks proved the largest drag on equities. The S&P
500 will log a 4.5% for October.
Economic data this morning included the Labor Department
reporting a smaller-than-expected 10,000 decline in new
unemployment insurance claims last week, slipping to 340,000 during
the seven days ended Oct. 26.
Manufacturing as measured by the Chicago Purchasing Managers
Index also unexpectedly rose, surging to more than a three-year
high of 65.9 in October. That represented a nearly 20% rise over
September's reading and easily dispatched consensus estimates
looking for a 55.0 reading this month.
Crude oil for December delivery settled 39 cents lower at $96.36
per barrel while December natural gas was down 4 cents to $3.58 per
1 million BTU. December gold fell $25.40 to $1,323.50 per ounce
while December silver slipped $1.12 to $21.86 per ounce. December
copper was off 3 cents at $3.30 per pound.
Here's where the markets stood at end-of-day:
Dow Jones Industrial Average down 73, or 0.5%, at 15,545
S&P 500 down 6, or 0.4%, at 1,756
Nasdaq Composite Index down 11, 0r 0.3%, at 3,919
Hang Seng Index down 0.42%
Shanghai China Composite Index down 0.87%
FTSE 100 Index down 0.71%
(+) WUBA, Chinese online retailer ends first day as a public
company roughly 50% higher than where it began. Earlier prices IPO
of 11 million ADS at $17.00 each, generating $187 million in gross
(+) ZLTQ, Posts $0.08 per share net loss, easily beating the
$0.19 per share loss analysts expected. Doubles FY13 revenue
guidance to 40% year over year increase, which would be $106.7 mln,
topping estimates by $14.2 mln.
(+) SHOR, Fiscal Q1 earnings of $0.07 per share, ex items, beat
the Capital IQ consensus by $0.07 per share. Revenue also tops
(-) ARIA, Temporarily shelves its Iclusig leukemia treatment
because of possible cardiac-related side effects linked to the
(-) AVP, Cosmetics seller reports Q3 adjusted EPS of $0.14 per
share, missing forecasts by $0.05. Total revenue fall 7% to $2.3
billion, also shy of forecasts for $2.4 billion.
(-) NIHD, Lowers FY13 earnings guidance, now saying it expects
profit this year will trail its prior forecast by more than
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