Libya's Prime Minister Ali Zeidan was
on Thursday morning when gunmen broke into his Tripoli hotel
The incident came shortly after US forces conducted a raid in
which they seized Libyan Abu Anas al-Libi, a suspected al Qaeda
member who participated in 1998 embassy bombings.
Although the Libyan government has denied any prior knowledge of
the US raid, several powerful Islamic militant groups have accused
the government of assisting with the operation.
In other news around the markets:
The standoff between Democrats and Republicans in Washington showed
signs of progress on Wednesday after some conservative Republicans
considered the idea of a short-term increase in the nation's
borrowing limit. On Thursday, House GOP leaders are set to meet
with President Obama for the first time since the shutdown began.
After US government officials announced on Wednesday that they were
going to postpone shipments of military equipment to Egypt, several
of America's Middle Eastern allies voiced their frustration with
the US' unwillingness to step in to help stabilize the region.
Nations like Israel and Saudi Arabia worried that cutting off
Egypt's aid would have far reaching consequences. However, US
officials defended their decisions, saying the aid would resume
when Cairo begins to make a democratic transition. The dollar
gained after US FOMC minutes showed that the Fed's decision not to
begin tapering its bond buying program was not an easy one. The
minutes boosted the US currency as they added to speculation that
the central bank could cut down on its stimulus spending at its
December meeting. After announcing that Janet Yellen will take over
as Chairman of the Federal Reserve, President Obama called for a
speedy approval of her position from the Senate. With the potential
US default weighing on markets, many believe Obama wants to restore
confidence as Yellen's appointment will likely improve investor
Asian markets were mixed on Thursday; the Japanese NIKKEI posted
large gains, up 1.12 percent, and Indonesia's JSX composite rose
0.68 percent. China's Shanghai composite was down 0.94 percent and
the Shenzhen composite lost 0.34 percent.
European markets were up across the board; the UK's FTSE gained
0.81 percent and the eurozone's STOXX 600 was up 0.99 percent. The
Spanish IBEX was up 1.61 percent and the German DAX gained 0.93
Geopolitical tension boosted energy futures on Thursday; Brent
futures were up 0.95 percent and WTI futures were up 0.40 percent.
Gold lost 0.24 percent and silver was down 0.19 percent. Industrial
metals were also lower with aluminum down 0.38 percent and tin down
The euro to dollar ratio was mostly flat and the pound lost 0.13
percent against the dollar. The Yen fell 0.52 percent against the
Notable earnings released on Wednesday included:
Family Dollar Stores, Inc. (NYSE:
) reported EPS of $0.86 on revenue of $2.50 billion, compared to
last year's EPS of $0.75 on revenue of $2.36 billion. RPM
International Inc (NYSE:
) reported EPS of $0.77 on revenue of $1.16 billion, compared to
last year's EPS of $0.64 on revenue of $1.05 billion. Del Frisco's
Restaurant Group, Inc. (NASDAQ:
) reported EPS of $0.10 on revenue of $52.20 million, compared to
last year's EPS of $0.10 on revenue of $47.89 million. Progressive
) reported EPS of $0.39, compared to last year's EPS of $0.27 on
revenue of $4.24 billion.
Stocks moving in the pre-market included:
Wells Fargo & Co (NYSE:
) gained 2.53 percent in pre-market trade after falling 2.18
percent over the past five days. Hewlett-Packard Co(NYSE:
) was up 1.68 percent in pre-market trade after an improving sales
forecast took the stock up 8.92 percent on Wednesday. Bank of
America Corporation (NYSE:
) gained 1.08 percent in pre-market trade, adding to Wednesday's
1.10 percent gain. Delta Air Lines Inc (NYSE:
) gained 1.03 percent in pre-market trade after a week of choppy
trading took the stock down 2.49 percent on Tuesday and 1.35
percent on Monday Ford Motor Co (NYSE:
) gained 0.90 percent in pre-market trade after losing 3.43 percent
over the past five days.
Earnings reports expected on Thursday include:
Micron Technology, Inc. (NASDAQ:
) is expected to report EPS of $0.24 on revenue of $2.70 billion,
compared to last year's loss of $0.24 per share on revenue of $1.96
billion. Lindsay Corporation (NYSE:
) is expected to report EPS of $0.91 on revenue of $155.69 million,
compared to last year's EPS of $0.68 on revenue of $127.82
million. Marriot Vacations Worldwide Corporation (NYSE:
is expected to report EPS of $0.39 on revenue of $400.32 million,
compared to last year's EPS of $0.23 on revenue of $383.00 million.
Safeway Inc. (NYSE:
) is expected to report EPS of $0.16 on revenue of $8.52 billion,
compared to last year's EPS of $0.16 on revenue of $10.05 billion.
Economic releases expected on Thursday include, US initial and
continuing jobless claims, Bank of England interest rate decision,
ECB monthly report, Italian industrial production and Norwegian
Good luck with your Thursday trades!
For a recap of Wednesday's market action, click
Tune into Benzinga's pre-market info show with Dennis Dick and
(c) 2013 Benzinga.com. Benzinga does not provide investment
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