Midway through trading Tuesday, the Dow traded down 0.26
percent to 14,413.93 while the NASDAQ dropped 0.50 percent to
3,221.50. The S&P also fell, declining 0.50 percent to
Index Technicals: The Dow looks set to find support at 14,440
and will test its 14,410 support, while encountering resistance
at the 14,522 level.
The S&P 500 seems to be finding support at 1,550, with
overhead resistance at 1,560.
The NASDAQ briefly loses its 3,320 support after a gap down,
before rising up with 3,250 resistance overhead.
Finally, the Russell looks set to find support at 945, while
hitting resistance at the 951 level.
Top Headline Yesterday, Electronic Arts (NASDAQ:
) reported that its CEO, John Riccitiello, is stepping down.
EA also warned that its current-quarter earnings will be at
the low end of its earlier issued view. The company has appointed
Larry Probst, former CEO and chairman of the board, as its
executive chairman. Equities Trading UP AmerisourceBergen (NYSE:
) shot up 6.17 percent to $51.28 after Walgreen (NYSE:
) announced its plans to buy stake in AmerisourceBergen. Shares
of NPS Pharmaceuticals (NASDAQ:
) got a boost, shooting up 11.73 percent to $10.10 after the
company re-gained marketing worldwide rights to teduglutide and
recombinant human parathyroid hormone 1-84.. Walgreen Co (NYSE:
) was also up, gaining 5.16 percent to $44.62 after the company
reported an 11% rise in its FQ2 profit. The company also
announced its plans to buy a stake in AmerisourceBergen. Equities
Trading DOWN DSW (NYSE:
) shares tumbled 7.43 percent to $62.07 after the company issued
weak forecast. Electronic Arts (NASDAQ:
) was also down, falling 8.23 percent to $17.17 after the company
reported that its CEO, John Riccitiello, is stepping down.
Shares of Walter Investment Management (NYSE:
) were down 15.85 percent to $35.00 after the company posted a Q4
GAAP net loss of $34.1 million.
Commodities In commodity news, oil traded down 0.75 percent to
$93.04, while gold traded up 0.46 percent to $1,612.00. Silver
traded up 0.25 percent Tuesday to $28.95, while copper fell 0.45
percent to $3.41.
Eurozone European shares were lower for the second consecutive
day. The Spanish Ibex Index tumbled 2.27 percent and the Italian
FTSE MIB Index fell 1.63 percent. The STOXX Europe 600 Index fell
0.45 percent, London's FTSE 100 Index rose 0.51 percent, French
CAC 40 Index dipped 1.38 percent and German DAX 30 index dropped
0.95 percent. Economics US housing starts climbed 0.8% to 917,000
in February. However, economists were expecting construction
starts to increase to 913,000 in February. The ICSC/Goldman Sachs
Retail Chain Store Sales Index gained 1.4% in the latest week
ended Saturday. The Johnson Redbook Retail Sales Index rose 2.9%
y/y in the week ended March 16, 2013. The Treasury is set to
auction 4-week bills.
(c) 2013 Benzinga.com. Benzinga does not provide investment
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