Midway through trading Wednesday, the Dow traded up 0.97
percent to 14,815.98 while the NASDAQ rose 1.79 percent to
3,295.44. The S&P also rose, increasing 1.22 percent to
Index Technicals: The S&P 500 looks to be hitting its
1,575 resistance, with 1,560 acting as support below that.
The Dow looks to take out its 14,700 new highs, which will
The Russell is hitting its 20 EMA resistance at 934.18, with
940 resistance above that.
Finally, the NASDAQ looks to be taking out its 3,240
resistance, with 3,270 resistance higher.
Top Headline Making headlines this morning was the early
release of the FOMC minutes. Originally slated for release today
at 2 PM EST, it was reported that the document was accidentally
sent yesterday sometime after 2 PM EST, giving those individuals
as much as 24 hours of lead time before the official release.
Upon realizing the error, the Fed moved up its official
release to 9 AM EST this morning, and has notified the SEC to
look for whether or not trades were made on the data.
Stay tuned to Benzinga for more updates on this scandal.
Equities Trading UP ManKind (NASDAQ:
) was on the rise Wednesday morning, gaining 9.61 percent to
$4.45 on seemingly little news.
Shares of JDS Uniphase (NASDAQ:
) were also up, gaining 5.70 percent to $14.10 on a possible
) traded up 13.34 percent to $22.34 after beating earnings
expectations after the close Wednesday.
Equities Trading DOWN Titan Machinery (NASDAQ:
) fell sharply at the market opening, gapping down 15.99 percent
to $21.94 after reporting earnings this morning.
Health Management Association (NYSE:
) fell 16.96 percent to $10.46 after announcing disappointing
guidance for 2013 and releasing earnings this morning.
Shares of First Solar (NASDAQ:
) are pulling back this morning after a strong rally yesterday,
falling 4.27 percent to $37.67 as traders took profits on some
massive gains made during yesterday's rise.
Commodities In commodity news, oil traded down 0.15 percent to
$94.06, while gold traded down 1.13 percent to $1,568.50.
Silver traded down 1.41 percent Wednesday to $27.59, while
copper fell 0.77 percent to $3.41.
Eurozone European markets shot up this morning in hopes of
additional easing measures from the Fed.
The Spanish Ibex lead the charge, gaining a staggering 2.14
percent, while the German DAX rocketed upwards as well, gaining
Economics The FOMC meeting minutes were mistakenly released
early yesterday according to the Fed to a group of about 100
legislators and trading lobbyists. As a result, the minutes
release was moved forward to 9 AM EST this morning, and stated
that little has changed in the fed outlook.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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