After trading flat yesterday, markets bounced around today,
closing down. Markets opened down after the bank of Japan failed
to extend the maturity of 0.1 percent bonds.
Markets fell across the world on the news of Japan with the
Nikkei down 1.45 percent with Spain, Italy, and Germany trading
at similar levels.
The Dow Jones Industrial Average fell 116.57 points, or 0.76
percent to 15,122.02 points.
The S&P 500 lost 16.68 points to fall 1.02 percent.
The Nasdaq dropped almost 37 points to close at 3,436.95
United States wholesale inventories for April rose to $504.8
billion, up 0.2 percent from the previous month. Despite this
gain, growth is slowed as compared to March.
The Redbook Retail Sales Index climbed half a percent for the
first two weeks of May versus April.
The ICSC/Goldman Sachs Retail Chain Stores Sale Index fell
almost three percent for the past week, as compared to the week
Despite falling stock prices, oil traded up for the day, with
crude closing up ten cents to $95.87.
Moving with the markets, gold fell 0.64 percent late in the
trading day, falling to $1377.21 per ounce. Similarly, silver
fell almost one percent to $20.95.
In the grain complex, corn and wheat picked up ground today
gaining 8 and 6.75 dollars, respectively.
Bonds climbed on market weakness today. The iShares Barclays
20+ Yr Treasury Bond (NYSE:
) ETF climbed over one percent, rallying late in the trading
session, closing near $114. Consequently, bond yields fell. The
five year yield fell 1.15 percent to 1.11 percent and the ten
year note lost three points to fall at 2.18 percent.
The dollar lost value today. The PowerShares DB US Dollar
Index Bullish ETF (NYSE:
), that tracks the performance of the dollar versus a basket of
other currencies closed down 0.86 percent.
Dole Food Company (NYSE:
) shot up 22.16 percent to $12.46 on CEO bid $12 per share for
the outstanding stock. Shares of Catamaran (NASDAQ:
) got a boost, shooting up 10.97 percent to $53.99 after Cigna
) entered into a 10-year agreement with Catamaran.Lululemon
) was down, falling 17.44 percent to $67.85 after the company
announced the resignation of its Chief Executive Christine
Day.Shares of Navistar International (NYSE:
) were down 9.15 percent to $31.17 after the company reported its
second quarter results following the close Monday.
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