Midway through trading Thursday, the Dow traded up 0.06
percent to 14,559.68 while the NASDAQ dropped 0.30 percent to
3,209.00. The S&P rose, gaining 0.11 percent to 1,555.34.
Index Technicals: The S&P looks set to lose its 1,560
support, while holding 1,540 support below that, with a bearish
MACD cross and a slightly bearish divergence.
The Dow ended yesterday right at its 14,550 support, with
14,400 acting as support below that. The MACD is showing a
slightly bearish divergence on the daily chart as well.
The Russell looks to be holding its 50 EMA daily support at
920.23, with 895 support below that and a bearish MACD divergence
on its daily chart.
Finally, the NASDAQ looks to be breaking its ascending wedge
to the downside, with 3,200 support below that and a bearish MACD
divergence and cross on its daily chart.
Top Headline The Greenbrier Companies (NYSE:
) reported a 22% drop in its second-quarter profit. Greenbrier's
quarterly net income declined to $13.8 million, or $0.45 per
share, versus $17.7 million, or $0.57 per share, in the year-ago
period. Its revenue dropped to $423.2 million from $458.2
million. However, analysts were expecting earnings of $0.37 per
share on revenue of $442.9 million, Equities Trading UP
Alcatel-Lucent SA (NYSE:
) shot up 9.38 percent to $1.40 after Deutsche Bank upgraded the
stock to "buy." Shares of Finisar (NASDAQ:
) got a boost, shooting up 5.27 percent to $13.28 after Lazard
Capital upgraded the stock from "neutral" to "buy." Best Buy Co
) was also up, gaining 12.38 percent to $24.33 after the company
announced its plans to set up Samsung Experience Shops inside
Best Buys across the US.
Equities Trading DOWN The Greenbrier Companies (NYSE:
) shares tumbled 3.51 percent to $21.04 after the company
reported downbeat quarterly revenue. RPM International (NYSE:
) was also down, falling 1.40 percent to $30.33 after the company
reported Q3 results.
Shares of NII Holdings (NASDAQ:
) were down 7.13 percent to $4.69.
Commodities In commodity news, oil traded down 2.08 percent to
$92.49, while gold traded down 0.37 percent to $1,547.80. Silver
traded down 0.18 percent Thursday to $26.75, while copper rose
0.56 percent to $3.35.
Eurozone European shares were lower today. The ECB left its
key lending rate unchanged at 0.75%, while the Bank of England
left its key lending rate unchanged at 0.5%. The Eurozone
Services PMI dropped to 46.4 in March from 46.5 in February on
expectations of a reading of 46.5. Weakness in Germany and France
weighed while Italy and Spain's services PMIs were slightly
stronger than expected. The British services PMI jumped to 52.4
in March from 51.8 in February when economists were expecting a
decline to 51.5. The Spanish Ibex Index dropped 0.71% while the
Italian FTSE MIB Index fell 0.30 percent. Meanwhile, the German
DAX fell 0.73 percent and the French CAC dropped 0.77 percent and
U.K. shares declined 1.19 percent.
Economics US initial jobless claims rose 28,000 to 385,000 in
the latest week ended March 30, the Labor Department said.
Economists were expecting claims to fall to 350,000. Natural-gas
supplies dropped 94 billion cubic feet for the week ended March
29, the Energy Information Administration said. However, analysts
were expecting a drop between 90 billion and 94 billion cubic
feet. The Bloomberg Consumer Comfort Index rose to minus 34.1 in
the latest week ended March 31, versus minus 34.4 in the previous
period. Fed President Charles Evans and Chairman Ben Bernanke are
set to speak.
(c) 2013 Benzinga.com. Benzinga does not provide investment
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