The U.S. stock market closed Tuesday's session mixed with the
Dow eking out the smallest of gains and the S&P 500 and
Nasdaq Composite recording small losses.
Among the worst performing sectors on the day were technology
and consumer cyclical stocks. The best performers were basic
materials and healthcare. While there was little in the way of
bearish news, the market could be getting exhausted and a
short-term reversal is a possibility.
The Dow Jones Industrial Average added a little less than 3
points, or 0.02 percent, to close at 14,450.
The S&P 500 lost around 4 points, or 0.24 percent, to
The Nasdaq fell almost 11 points, or 0.32 percent, to
Late in Tuesday's equity trading session, energy prices were
mixed. At last check, NYMEX crude futures had risen around 0.45
percent to $92.49 while Brent contracts were down around 0.67
percent to $109.48. Natural gas lost 0.44 percent on the day and
was last trading at $3.63.
Precious metals rose on Tuesday. Near the close of equities,
COMEX gold futures were up 0.94 percent to $1,592.90. Silver
futures had risen 1.24 percent to $29.21. Copper added around 1
percent on the session.
In the agricultural complex, both corn and wheat recorded
small gains or around 0.50 percent. In soft commodities, cocoa
added better than 1.30 percent and coffee traded down around 1
percent on the day.
Near the close of stocks, the iShares Barclays 20+ Year
Treasury Bond ETF (NYSE:
) had added around 0.64 percent to $115.60. Higher bond prices
led to lower yields on the session.
While the 2-Year yield held steady at 0.25 percent, the yield
on the 5-Year Note fell two basis points to 0.87 percent. The
10-Year Note yield and 30-Year Bond yield both lost four basis
points to 3.22 percent.
The U.S. dollar was basically flat on Tuesday. The PowerShares
DB US Dollar Index Bullish ETF (NYSE:
), which tracks the performance of the greenback versus a basket
of foreign currencies, was unchanged near the close.
The closely watched EUR/USD pair was last trading down around
0.10 percent to $1.3020 while the USD/JPY fell 0.69 percent.
Other significant movers included the AUD/USD which added 0.47
Volatility and Volume
Despite only marginal losses in the S&P 500, the VIX
jumped from 52-week low levels. The VIX rose better than 6
percent on the day to 12.31.
Volume was significantly lighter than average, with around 88
million SPDR S&P 500 ETF (NYSE:
) shares trading hands versus a 3-month daily average of 133
Outdoor outfitter Cabela's (NYSE:
) surged around 13 percent after the company raised its
first-quarter earnings guidance.
Glu Mobile (NASDAQ:
) jumped better than 16 percent near the close after the company
launched real money gambling on its gaming platform.
Dicks Sporting Goods (NYSE:
) climbed 5 percent a day after the stock fell sharply in the
wake of the company's quarterly earnings results.
Diamond Foods (NASDAQ:
) plunged around 10 percent after the company released its fiscal
second-quarter earnings results.
Endeavour Silver (NYSE:
) was trading up around 12 percent near the close after the
company released its fiscal fourth-quarter and full-year earnings
) climbed better than 11 percent after its fourth-quarter and
full-year earnings results.
Sears Hometown and Outlet Stores (NASDAQ:
) fell more than 12 percent after the company's Q4 results.
Emeritus Corp. (NYSE:
) was trading down more than 9 percent late on Tuesday after the
company announced a secondary offering.
) had lost around 8 percent heading into the close after the
company announced an offering whereby insiders would be selling
24.3 million shares.
Scientific Games (NASDAQ:
) lost almost 7 percent after the company reported a large loss
in its fiscal fourth-quarter.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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