Midway through trading Tuesday, the Dow traded down 0.03
percent to 14,442.75 while the NASDAQ fell 0.54 percent to
3,235.27. The S&P also fell, dropping 0.29 percent to
Index Technicals: The S&P 500 has been defending its 50
EMA on the 10 minute chart with some strength, while it has been
showing intraday resistance at 1,556 and support at 1,550.
The Dow seems to be stalling at 14,440, with lower intraday
support at 12,250 while defending its 50 EMA on its 10 minute
The Russell looks to be stalling at its 943 highs, while
holding lower support at 930.
Finally, the NASDAQ is showing resistance at 3,253, with lower
support at 3,215.
Top Headline Costco Wholesale (NASDAQ:
) reported upbeat fiscal-second-quarter earnings. Costco's
quarterly earnings surged to $547 million, or $1.24 per share,
from $394 million, or $0.90 per share, in the year-ago period.
Its net sales rose to $24.34 billion from $22.51 billion, while
net revenue climbed to $24.87 billion from $22.97 billion.
However, analysts were expecting a profit of $1.05 per share on
sales of $24.34 billion. Equities Trading UP BioScrip (NASDAQ:
) shot up 11 percent to $12.10 after the company reported upbeat
Q4 results. Shares of Endeavour Silver (NYSE:
) got a boost, shooting up 11.94 percent to $6.4699 after the
company reported record earnings for the year ended December 31,
2012. Cabela's (NYSE:
) was also up, gaining 11.43 percent to $60.06 after the company
issued strong Q1 forecast.
Equities Trading DOWN AVG Technologies NV (NYSE:
) shares tumbled 9.32 percent to $12.35 after Morgan Stanley
downgraded the stock from Overweight to Equal-weight. Yandex NV
) was also down, falling 7.59 percent to $23.13 after the company
commenced an underwritten public offering of an aggregate of
24,253,987 Class A shares by selling shareholders.
Shares of U.S. Silica Holdings (NYSE:
) were down 10.67 percent to $23.70 after the company announced
8.5 million share secondary offering by selling stockholder.
Commodities In commodity news, oil traded up 1.11 percent to
$93.08, while gold traded up 0.87 percent to $1,591.70. Silver
traded up 1.17 percent Tuesday to $29.19, while copper rose 1.07
percent to $3.55.
Eurozone European shares were mixed after some weak economic
data from the U.K. as inflation in Germany and other core
European nations remained low in February, signaling more room
for the ECB to ease policy further. U.K. January industrial
production fell 1.2 percent, well worse than forecasts of a 0.1
percent gain and also much worse than December's 1.1 percent
gain. Manufacturing output also fell 1.5 percent in January on
expectations of a flat reading. The Spanish Ibex Index tumbled
0.06 percent and the Italian FTSE MIB Index dropped 0.31 percent.
The STOXX Europe 600 Index rose 0.15 percent, London's FTSE 100
Index rose 0.33 percent, French CAC 40 Index climbed 0.29 percent
and German DAX 30 index dropped 0.10 percent. Economics The NFIB
small-business confidence index rose 1.9 points to 90.8% in
February. In the week ended Saturday, the ICSC/Goldman Sachs
Retail Chain Store Sales Index rose 0.7% from the previous week.
Retail sales climbed 2.7% in the latest week ended March 9,
according to report released by Johnson Redbook. The Treasury is
also set to auction 4-week and 3-year notes and also issue its
monthly budget statement.
(c) 2013 Benzinga.com. Benzinga does not provide investment
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