Midway through trading Monday, the Dow traded down 0.40
percent to 14,033.29 while the NASDAQ fell 0.44 percent to
3,155.86. The S&P also dropped, falling 0.33 percent to
Index Technicals: The S&P 500 looks to be struggling with
its 1,525 resistance, while still holding its 1,495 support.
The Dow will also struggle to hold its breakout over 14,058,
with 14,149 acting as upper level resistance, while the 20 EMA
provides support below at 13,950.
The Russel struggles with its 916 resistance, while holding
lower support at 894.
Finally, the NASDAQ looks to have resistance at 3,180 with
lower support at 3,120 and 50 EMA support at 3,126.58.
Top Headline Hess (NYSE:
) announced its plans to exit its retail, energy marketing, and
energy trading businesses. The company also announced its plans
to buy back up to $4 billion in stock and raise its annual
dividend to $1 per share.
Equities Trading UP Stratasys (NASDAQ:
) shot up 6.99 percent to $68.75 after the company reported
better-than-expected Q4 results. Shares of Ferro (NYSE:
) got a boost, shooting up 32.50 percent to $6.89 after A.
) offered to buy Ferro. Boyd Gaming (NYSE:
) was also up, gaining 9.06 percent to $7.05 after the company
reported Q4 results and entered into a definitive agreement to
sell the Echelon site to the Genting Group for $350 million in
Equities Trading DOWN Select Comfort (NASDAQ:
) shares tumbled 16.02 percent to $17.23 after the company issued
business performance update and expects to miss its internal
goals for its first quarter. Hecla Mining Co (NYSE:
) was also down, falling 12.50 percent to $4.06 after the company
announced its plans to buy Aurizon Mines for C$4.75 per share.
Shares of Atlantic Power (NYSE:
) were down 15.59 percent to $6.01. The company's project income
dropped in the fourth quarter.
Commodities In commodity news, oil traded down 0.98 percent to
$89.79, while gold traded up 0.01 percent to $1,572.50. Silver
traded up 0.04 percent Monday to $28.50, while copper rose 0.07
percent to $3.50.
Eurozone European shares were mostly lower save for Spain in
early trade on fears of a global slowdown led by China and on
Italian political fears. Spain's unemployment rate rose to a
massive 27 percent in February as more than 59 thousand workers
filed for new unemployment claims in Spain. The Spanish Ibex
Index gained 0.72 percent and the Italian FTSE MIB Index dipped
0.85 percent. The STOXX Europe 600 Index fell 0.04 percent,
London's FTSE 100 Index dropped 0.52 percent, French CAC 40 Index
rose 0.27 percent and German DAX 30 index fell 0.21 percent.
Economics On the economics calendar Monday, the Treasury is
set to auction 3- and 6-month bills. Also, the TD Ameritrade
Investor Movement Index should shed light on retail flows in
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
Gain access to more investing ideas, tools & education.
Get Started on Marketfy, the first ever curated
& verified Marketplace for everything trading.