Midway through trading Thursday, the Dow traded up 0.43
percent to 14,865.98 while the NASDAQ rose 0.05 percent to
3,299.44. The S&P also rose, increasing 0.40 percent to
Index Technicals: The S&P 500 looks to be hitting new
resistance at 1,590 with 1,575 acting as resistance below
The Dow looks to have new resistance at 14,825, with 14,685
The Russell is set to take out its 940 resistance with 960
acting as resistance above that.
Finally, the NASDAQ looks to be breaking out through 3,270
resistance, finding new resistance at 3,300.
Top Headline An IDC report came out yesterday reporting global
PC shipments, saying they were down over 14 percent, the largest
decrease ever reported. The release also highlighted a decrease
of 10.9 percent in shipments from Dell (NASDAQ:
The news has caused companies like Microsoft (NASDAQ:
) and Hewlett Packard (NYSE:
) to take a hit, and sent ripples through the PC manufacturers
Equities Trading UP ACADIA Pharmaceuticals (NASDAQ:
) shot up 56.71 percent to $12.49 after the company announced it
had received an expedited FDA review path for its lead drug
Shares of Rite Aid (NYSE:
) shot up 18.99 percent to $2.13 after the company crushed
expectations on the bottom line in its earnings release this
Boyd Gaming (NYSE:
) was also up, gaining 10.24 percent to $9.04 after Morgan
Stanley upgraded the stock to an Overweight rating this
Equities Trading DOWN Fortinet (NASDAQ:
) plummeted at the market opening, falling 14.42 to $18.70 after
taking a series of analyst downgrades this morning.
) was also down, falling 6.90 percent to $20.78 after the PC
sales data was released to the public.
Shares of Advanced Micro Devices (NYSE:
) took a hit as well, falling 3.56 percent to $2.52 on the poor
Commodities In commodity news, oil traded down 1.46 percent to
$93.26, while gold traded up 0.40 percent to $1,565.50.
Silver traded up 0.63 percent Thursday to $27.81, while copper
rose 0.26 percent to $3.43.
Eurozone European markets were higher this morning as it was
reported that Cyprus had signed its memorandum of understanding
with the Troika, opening the door to its much needed bailout
Following the news, the French CAC rose 0.60 percent, while
the German DAX was close behind, gaining 0.55 percent.
Economics In economic news this morning, initial jobless
claims came in at 346K, above the expected 340K, but below the
prior release of 385K, while continuing jobless claims came in at
3.08 million, above the expected 3.07 million and the previous
result of 3.06 million.
The import price index came in down -0.50 percent, equal to
the prior figure.
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