Midway through trading Monday, the Dow traded down 0.41
percent to 14,453.18 while the NASDAQ dropped 0.37 percent to
3,233.06. The S&P also fell, dropping 0.30 percent to
Index Technicals: The S&P 500 looks to be showing support
at 1,545, with overhead resistance at 1,562.
The Dow is showing support at the 14,400 level, while holding
its overhead resistance at 14,550.
The NASDAQ has support at 3,220 and resistance at 3,260.
Finally, the Russell is holding resistance at the 952 level,
while 940 acting as support below that.
Top Headline Dollar General (NYSE:
) reported a rise in its fourth-quarter earnings. Dollar
General's quarterly earnings rose to $317 million, or $0.97 per
share, from $293 million, or $0.85 per share, in the year-ago
period. However, analysts were expecting a profit of $0.90 per
share. Its net sales gained 0.5% to $4.21 billion from $4.19
billion, while same-store sales climbed 3%. Equities Trading UP
Apollo Group (NASDAQ:
) shot up 8.45 percent to $18.48 after the company reported
upbeat Q2 results. Shares of Veeco Instruments (NASDAQ:
) got a boost, shooting up 10.90 percent to $38.77 after analysts
at Canaccord Genuity upgraded the stock from "sell" to "buy."
Array BioPharma (NASDAQ:
) was also up, gaining 7.69 percent to $4.62 after analysts at
Piper Jaffray upgraded the stock from "neutral" to "overweight."
Equities Trading DOWN Idenix Pharmaceuticals (NASDAQ:
) shares tumbled 12.50 percent to $4.03 after the company lost
its first phase of a patent dispute with Gilead Sciences (NASDAQ:
). BlackBerry (NASDAQ:
) was also down, falling 4.29 percent to $14.27 after analysts at
Goldman Sachs downgraded the stock from "buy" to "neutral."
Shares of Red Hat (NYSE:
) were down 5.10 percent to $48.21 after Raymond James downgraded
the stock from "outperform" to "market perform."
Commodities In commodity news, oil traded up 0.51 percent to
$94.19, while gold traded down 0.30 percent to $1,603.20. Silver
traded up 0.37 percent Monday to $28.81, while copper fell 0.68
percent to $3.44.
Eurozone European shares were lower today. The Spanish Ibex
Index tumbled 1.88 percent and the Italian FTSE MIB Index dropped
2.09 percent. The STOXX Europe 600 Index dropped 0.03 percent,
London's FTSE 100 Index fell 0.12 percent, French CAC 40 Index
declined 0.80 percent and German DAX 30 index dropped 0.22
percent. Economics The Chicago Fed National Activity Index
climbed to +0.44 in February, versus a revised reading of -0.49
in January. The Dallas Fed general business activity index surged
to 7.4 in March, versus 2.2 in February. New York Fed President
William Dudley is set to speak at the Economic Club of New York
and Chairman Ben Bernanke is set to speak alongside Bank of
England Governor Mervyn King at the London School of Economics on
lessons learned from the crisis.
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