Toward the end of trading Tuesday, the Dow traded up 0.35
percent to 14,030.51 while the NASDAQ rose 0.52 percent to
3,208.31. The S&P also rose, increasing 0.63 percent to
Index Technicals: For technicals on the major indices today, the
S&P looks poised to bounce off its 1515 support and head to
The NASDAQ looks to be struggling to hold a breakout over
The Dow looks to be remaining in the 13,860-14,022 range, after
it attempts a breakout over 14,022
The RUSSEL continues to trend higher, with new intra-day
resistance at 927.5..
Top Headline Making headlines on Tuesday was the rumored merger
between Office Depot (NYSE: ODP ) and OfficeMax
(NYSE: OMX ). The
news sent shares up almost 33 percent and 26 percent respectively.
The rumor, which said a deal may emerge as early as this week, also
sent Staples (NASDAQ: SPLS ) through the
roof, gaining over 15 percent.
Equities Trading UP SunPower (NASDAQ: SPWR ) shot up 16.77
percent to $13.37 Tuesday after being initiated by Citibank with a
Shares of Sealed Air Corporation (NYSE: SEE ) were also on the
rise Tuesday, gaining a staggering amount in early trading, but
settling down at a gain of 10.88 percent to $21.51 after an
earnings beat and raising its top line guidance, but lowering its
forecast for the bottom line.
Power-One (NASDAQ: PWER ) rose 113.35
percent to $4.67 after an upgrade at Raymond James to a Strong-Buy
with a $6 price target.
Equities Trading DOWN Group 1 Automotive (NYSE: GPI ) traded down 8.35
percent to $61.08 after the company missed analyst estimates in its
report this morning.
Yandex (NASDAQ: YNDX ) was also down,
dropping 8.68 percent to $23.37 following some poor fourth-quarter
Shares of EarthLink (NASDAQ: ELNK ) were down as
well, falling 10.25 percent to $6.22 following the company's poor
fourth-quarter results this morning.
Commodities In commodity news, oil traded up 0.84 percent to
$96.67, while gold traded down 0.38 percent to $1,603.40.
Silver traded down 0.45 percent Tuesday to $29.40.
Euro zone In the eurozone this morning, markets rose following a
better than expected ZEW survey as bond yields declined. The French
CAC was leading the rise, gaining 0.99 percent while the Italian
FTSE was close behind, gaining 0.77 percent.
Economics In economic news Tuesday, the NAHB housing market
index came in at 46.00, missing the 48.00 estimates and the prior
release of 47.00.
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