Midway through trading Thursday, the Dow traded down 0.61
percent to 16,475.39 while the NASDAQ declined 0.76 percent to
4,144.77. The S&P also fell, dropping 0.69 percent to
Top Headline Fiat SpA (OTC:
) announced its plans to buy the rest of the Chrysler Group LLC
for $3.65 billion.
Fiat already owns 58.5% stock of Chrysler. Fiat projects the
deal to complete on January 20.
Equities Trading UP Shares of Molycorp (NYSE:
) got a boost, shooting up 4.57 percent to $5.88 after DA
lifted the price target
on the stock from $6.00 to $8.00.
Ariad Pharmaceuticals (NASDAQ:
) shot up 13.34 percent to $7.73. ARIAD will present at the
JP Morgan Healthcare Conference
on January 14 at 6:00 PM ET.
) was also up, gaining 5.69 percent to $38.64 after analysts at
Jefferies upgraded the stock from Hold to Buy.
Equities Trading DOWN Shares of DryShips (NASDAQ:
) were down 6.60 percent to $4.39 after the company
announced the resumption
of at the $200 million market equity offering.
) tumbled 3.93 percent to $11.02 after Evercore Partners
downgraded the stock from Equal-Weight to Underweight.
Texas Industries (NYSE:
) was down, falling 5.28 percent to $65.15 after Longbow Research
downgraded the stock from buy to neutral.
Commodities In commodity news,
oil traded down 2.06 percent
to $96.39, while gold traded up 1.89 percent to $1,225.00.
Silver traded up 3.77 percent Thursday to $20.10, while copper
fell 0.35 percent to $3.38.
Eurozone European shares
today. The Spanish Ibex Index fell 1.31 percent, while Italy's
FTSE MIB Index declined 0.05 percent. Meanwhile, the German DAX
dropped 1.32 percent and the French CAC 40 fell 1.60 percent
while U.K. shares declined 0.36 percent.
Economics U.S. initial jobless claims fell by 2,000 to 339,000
in the week ended December 28. However, economists were expecting
claims to total 344,000 in the week.
The final reading for the manufacturing PMI surged to 55 in
December, versus November's reading of 54.7. However, economists
were expecting a reading of 54.7.
The ISM manufacturing index fell to 57.00 in December, versus
a prior reading of 57.30. However, economists were expecting a
reading of 56.80.
The Bloomberg Consumer Comfort Index declined to-28.70 for the
week ended December 29, versus a prior reading of -27.40.
U.S. construction spending rose 1.00% in November, versus
economists' expectations for a 0.60% gain.
Data on money supply will be released at 4:30 p.m. ET.
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