Toward the end of trading Thursday, the Dow traded down 0.03
percent to 13,111.13 while the NASDAQ fell 0.01 percent to
2,989.72. The S&P also fell, decreasing 0.06 percent to
1,419.25.
Top Headline
With markets quiet from holiday absences, debate over the fiscal
cliff continues in Washington with little to no progress. As the
deadline approaches for both the debt ceiling and the fiscal cliff,
markets are becoming more skeptical of a solution in the near
future.
Equities Trading UP
Deckers Outdoor (NASDAQ: DECK )
saw a 9.78 percent boost to $38.29 after a Sterne Agee report came
out saying that UGG sales would be up in the second half of
2013.
Shares of Nu Skin (NYSE: NUS )
gained 6.45 percent to $35.34 on a relief rally as Herbalife and
other multi level marketing companies regained some of their
losses.
Smith & Wesson (NASDAQ: SWHC )
traded up 4.16 percent to $8.29 after the company announced it
would be boosting its stock buyback plan.
Equities Trading DOWN
AK Steel (NYSE: AKS ) fell 5.00 percent to $4.37, possibly a
technical fall.
Questcor Pharmaceuticals (NASDAQ: QCOR )
was also down, falling 6.76 percent to $27.93 after a Seeking Alpha
article reported that Blue Cross Blue Shield had denied coverage of
Acthar.
Shares of J.C. Penney (NYSE: JCP )
were down as well, falling steadily throughout the day, down 5.28
percent to $19.66 as news of poor holiday sales across the board
took hold with traders.
Commodities
In commodity news, oil traded up 0.20 percent to $91.16 while gold
traded up 0.30 percent to $1,665.80.
Silver traded up 0.20 percent Thursday to $30.23.
Eurozone
In the Euro zone this morning, markets reopened after the break
for boxing day. The results were mixed with Spanish shares falling
while Italian, German, French, and U.K. shares rose.
Economics
In economic news Thursday morning, initial jobless claims were
reported at 350.0 thousand, below the expected 360.0 thousand and
the prior report of 362.0 thousand.
Continuing claims were reported as well, coming in at 3.206
million, edging higher than the expected 3.20 million, but
remaining below the previous release of 3.225 million.
New home sales month over month came in at 4.4 percent, well
above the anticipated 3.3 percent and the prior report of -3.5
percent.
Finally, CB consumer confidence came in at 65.10, below the
projected 70.00 and the prior report of 71.50.
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