Midway through trading Thursday, the Dow traded up 0.39
percent to 17,045.75 while the NASDAQ dropped 0.05 percent to
4,524.34. The S&P also rose, gaining 0.21 percent to
Leading and Lagging Sectors
On Thursday, the financial sector proved to be a source of
strength for the market. Leading the sector was strength from
Federated National Holding Company (NASDAQ:
) and Nomura Holdings (NYSE:
In trading on Thursday, basic materials shares were relative
laggards, down on the day by about 0.60 percent. Meanwhile, top
decliners in the sector included Seabridge Gold (NYSE:
), down 5.2 percent, and Agnico Eagle Mines (NYSE:
), off 4.5 percent.
Dollar Tree (NASDAQ:
second-quarter profit. However, the company reported upbeat sales
for the quarter. The Chesapeake, Virginia-based company
posted a quarterly net profit of $121.5 million, or $0.59 per
share, versus a year-ago profit of $124.7 million, or $0.56 per
share. Excluding acquisition-related costs, its adjusted earnings
per share rose 8.9% to $0.61.
Its sales increased to $2.03 billion from $1.854 billion.
However, analysts were expecting earnings of $0.64 per share on
revenue of $2.01 billion. Dollar Tree's comparable store sales
rose 4.5% on a constant currency basis in the quarter. Equities
The Children's Place (NASDAQ:
) shares shot up 5.05 percent to $53.00 after the company
Shares of Hormel Foods (NYSE:
) got a boost, shooting up 5.39 percent to $50.44 after the
fiscal third-quarter profit.
) shares were also up, gaining 5.28 percent to $56.22. eBay may
consider spinning off its PayPal unit as soon as next year, The
Equities Trading DOWN
Shares of Stage Stores (NYSE:
) were down 2.70
percent to $18.00 after the company reported downbeat Q2 results
and lowered its FY15 forecast.
) shares tumbled 7.22 percent to $57.58 on downbeat quarterly
Sears Holdings (NASDAQ:
) was down, falling 7.19 percent to $33.37 after the company
for the second quarter.
In commodity news,
oil traded up 0.65 percent
to $94.06, while gold traded down 1.34 percent to $1,277.80.
Silver traded down 0.67 percent Thursday to $19.44, while
copper fell 0.05 percent to $3.20.
European shares today. The eurozone's STOXX 600 climbed 0.66
percent, the Spanish Ibex Index rose 1.30 percent, while Italy's
FTSE MIB Index jumped 2.06 percent. Meanwhile, the German DAX
climbed 0.87 percent and the French CAC 40 surged 1.18 percent
while UK shares gained 0.26 percent.
US initial jobless claims declined by 14,000 to 298,000 in the
week ended August 16. However, economists were projecting claims
to reach 303,000 in the week.
The preliminary reading of Markit manufacturing PMI surged to
58 in August, versus 55.8 in July.
The general conditions index of the Philadelphia Fed's Survey
rose to 28 in August, versus 23.9 in July. However, economists
were projecting a reading of 18.
The Conference Board's index of leading indicators climbed
0.9% in July.
Sales of existing homes climbed 2.4% to an annual rate of 5.15
million in July. However, economists were estimating sales rate
to fall to 5 million.
US natural gas supplies climbed 88 billion cubic feet for the
week ended August 15, according to the Energy Information
Administration. However, analysts were estimating a rise of 81
bcf to 85 bcf.
Data on money supply will be released at 4:30 p.m. ET.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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