Mid-way through trading Monday, the Dow traded down 0.20
percent to 13,964.18 while the NASDAQ fell 0.19 percent to
3,187.18. The S&P also fell, decreasing 0.13 percent to
Index Technicals: The Dow looks to be forming a price channel
today between 14,022.62-13,855.2, while the NASDAQ looks to be
re-testing its September highs at 3,197, with near term support
set around 3,125.
The S&P looks to be set up for a breakout above 1,515,
with its lower bound set at 1,497. As a reference point, its 2007
highs were set at 1,576, which may form a key level.
Top Headline Make headlines around the world today was the
retirement of Pope Benedict XVI, the first time a pope has
retired in over 6 centuries. While not specifically market
related, it has been covered closely in financial media, with
some tongue and cheek humor suggesting that he is leaving for the
Equities Trading UP AOL (NYSE:
) traded up 5.83 percent to $35.69 this morning after the company
received an upgrade and a price target increase on the heels of
its positive earnings report Friday.
Shares of SunPower (NASDAQ:
) traded up 10.47 percent to $8.76, riding a strong wave of
positive sentiment on the solar sector as a whole.
) has been having another good day of trading as shares rose 5.83
percent to $3.63 as investor sentiment continues to send the
stock upwards following its earnings report last week.
Equities Trading DOWN Heckman (NYSE:
) took a hit in early trading, falling 8.51 percent to $3.98
following a downgrade to Underperform at Wedbush Securities this
Caesars Entertainment (NASDAQ:
) was also down, falling 7.55 percent to $12.86, despite a strong
report in Nevada gaming revenues for 2012.
Shares of Rentech (NYSE:
) opened fairly flat, then spiked downwards, losing 5.19 percent
to $2.92, possibly a technical drop.
Commodities In commodity news, oil traded up 1.11 percent to
$96.78, while gold traded down 1.10 percent to $1,648.40.
Silver traded down 0.53 percent Monday to $30.91.
Eurozone In the eurozone this morning, markets were mixed as
traders moved on sentiment around the meeting of European
leaders. The Spanish Ibex lead the downside, falling 0.31
percent, while the French CAC lead things on the upside, gaining
Economics There were no major economic releases Monday
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