Toward the end of trading Tuesday, the Dow traded up 0.77
percent to 14,711.46 while the NASDAQ gained 1.15 percent to
3,253.83. The S&P also rose, surging 1.05 percent to
Index Technicals The S&P 500 looks to be resting on major
trend-line support at 1,550 as 1,570 acts as resistance above
Next, the Dow is also resting on major trend-line support and
its 20 EMA at 14,603.49, with 14,800/14,900 acting as resistance
The Russell looks to be losing both its daily 20 and 50 EMA
supports, while opening above its 915 support this morning, with
895 acting as support below and 950 as resistance above.
Finally, the NASDAQ looks to be closing just above its 50 EMA
support at 3,210.17, with 20 EMA resistance above that at
Top Headline Goldman Sachs Group (NYSE:
) reported a 7.2% rise in its first-quarter profit.
Goldman Sachs' quarterly profit surged to $2.26 billion, from
$2.11 billion, in the year-ago period. Its earnings per share
came in at $4.29 versus $3.92.
Its net revenue rose 1.4% to $10.09 billion. However, analysts
were expecting earnings of $3.88 per share on revenue of $9.72
Equities Trading UP Pinnacle Financial Partners (NASDAQ:
) shot up 12.78 percent to $24.41 after the company reported
upbeat quarterly profit.
Shares of Atlantic Power (NYSE:
) got a boost, shooting up 7.86 percent to $4.94. Atlantic Power
is expected to release its Q1 financial results after the closing
bell on May 8, 2013..
W.W. Grainger (NYSE:
) was also up, gaining 8.27 percent to $244.44 after the company
reported upbeat Q1 earnings.
Equities Trading DOWN Sarepta Therapeutics (NASDAQ:
) was also down, falling 13.69 percent to $34.87 on FDA guidance
on its muscular dystrophy drug.
Shares of NovaGold Resources (NYSE:
) were also down, falling 7.39 percent to $2.44, possibly linked
to the record low prices of gold the past few days.
) shares tumbled 8.81 percent to $28.16 after the company cut its
Commodities In commodity news, oil traded up 0.06 percent to
$89.41, while gold traded up 0.71 percent to $1,370.50.
Silver traded up 2.58 percent Tuesday to $23.36, while copper
rose 1.01 percent to $3.30.
Eurozone European shares were lower. The German ZEW Economic
Sentiment Index fell from a 3-month high to 36.3 from 48.5 in
March, below forecasts of 42. Also, the current conditions index
slipped to 9.2 from 13.6 previously, below forecasts as well.
The Spanish Ibex Index fell 0.82% while the Italian FTSE MIB
Index declined 0.61 percent. Meanwhile, the German DAX dropped
0.39 percent and the French CAC tumbled 0.67 percent and U.K.
shares declined 0.62 percent.
Economics The consumer price index fell 0.2% in March, while
the core CPI gained 0.1% in the month. However, economists
expected the CPI to decline 0.1% in March and the core rate to
U.S. housing starts climbed 7% to an annual rate of 1.04
million in March. However, economists were expecting construction
starts to climb to 933,000.
Industrial production gained 0.4% in March. However,
economists were expecting a 0.3% monthly rise.
The ICSC/Goldman Sachs Retail Chain Store Sales Index fell
1.1% in the recent week ended Saturday versus the week
US chain store sales dropped 2.7% in the first week of April
versus March, according to the Johnson Redbook Index.
Fed members Duke, Kocherlakota and Yellen are set to speak
throughout the day.
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