Midway through trading Tuesday, the Dow traded up 0.46 percent
to 13,848.02 while the NASDAQ fell 0.16 percent to 3,111.15. The
S&P rose, gaining 0.07 percent to 1,488.84.
Index Technicals: The S&P looks to have lost its key 1,497
support, with a 50 EMA set at 1,482.77. 1,460 looks to act as a
lower support level if the EMA fails.
The DOW also looks set to lose support, giving up the 13,860
level and 20 EMA of 13,886.14, with a 50 EMA set at
The NASDAQ is sitting right about its 50 EMA at 3,120.12, with
the 3,040 area acting as a lower support level.
The Russel looks poised to lost its 20 EMA at 907.31, while
stalling just about its 50 EMA at 887.27.
Top Headline Home Depot (NYSE:
) reported upbeat fiscal fourth-quarter earnings and lifted its
quarterly dividend. Home Depot's quarterly profit surged to $1.02
billion, or $0.68 per share, from $774 million, or $0.50 per
share, in the year-ago period. Excluding special items, it earned
$0.67 per share. Its sales climbed 14% to $18.25 billion.
However, analysts were expecting earnings of $0.64 per share on
revenue of $17.7 billion. It also lifted its quarterly dividend
by 34% to $0.39 per share. For FY13, Home Depot projects earnings
of around $3.37 per share, versus analysts' estimates of $3.49
per share. It also announced its plans to buy back $17 billion of
its common stock.
Equities Trading UP U.S. Silica Holdings (NASDAQ:
) shot up 25.23 percent to $22.98 after the company reported
strong Q4 earnings. Shares of Cracker Barrel Old Country Store
) got a boost, shooting up 10.06 percent to $73.68 after the
company reported upbeat Q2 results. CommonWealth REIT (NYSE:
) was also up, gaining 32.49 percent to $21.00. Corvex Management
LP and Related Fund Management LLC announced ownership of around
9.8% of the outstanding common shares of CommonWealth REIT.
Equities Trading DOWN Vitamin Shoppe (NYSE:
) shares tumbled 19.27 percent to $51.04 after the company
reported downbeat Q4 revenue. VIVUS (NASDAQ:
) was also down, falling 11.85 percent to $10.94 after the
company reported weak sales of its diet pill Qsymia. Shares of
Titan International (NYSE:
) were down 16.43 percent to $20.86, after the company posted a
Q4 loss from operations of $1.1 million.
Commodities In commodity news, oil traded down 0.75 percent to
$92.41, while gold traded up 1.61 percent to $1,612.10. Silver
traded up 0.97 percent Tuesday to $29.33, while copper gained
0.30 percent to $3.57.
Eurozone European shares were lower overnight led lower by
Italian banks following the election results. The Spanish Ibex
dipped 3.20 percent, while the Italian MIB index tumbled 4.89
percent. The STOXX Europe 600 Index fell 1.32 percent, London's
FTSE 100 Index dropped 1.34 percent, French CAC 40 Index fell
2.67 percent and German DAX 30 index declined 2.27 percent.
Economics The ICSC-Goldman Sachs Retail Chain Store Sales
Index climbed 0.1% from the earlier week. However, the index
increased 2.9% year-over-year. The Johnson Redbook Retail Sales
Index rose 2.7% y/y, down from 3.1% in the prior week. The
S&P/Case-Shiller home-price index rose 0.2% in December,
versus a 0.1% drop in November. December's prices surged 6.8%
y/y. US house prices surged 0.6% in December, according to the
Federal Housing Finance Agency. US new home sales climbed 15.6%
to an annual rate of 437,000 in January, beating estimates of
384,000. The Conference Board's consumer-confidence index surged
to 69.6 in February, from 58.4 in January, surpassing economists'
estimates of 62.3. Richmond Fed Manufacturing Index climbed to 6
in February, from -12 in February, beating estimates of -4. The
State Street Investor Confidence Index surged to 94.8 in
February, up 8.7 points versus January.
(c) 2013 Benzinga.com. Benzinga does not provide investment
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