Midway through trading Thursday, the Dow traded up 0.45
percent to 14,520.47 while the NASDAQ gained 0.35 percent to
3,256.33. The S&P also rose, gaining 0.41 percent to
Index Technicals: The S&P looks to find resistance at
1,556.50 with lower support at 1,550, and lower at 1,540.
The Dow seems to find resistance in the 14,475 area with lower
intra day support set at the 14,410 area.
The NASDAQ is showing resistance at the 3,253 level, with
lower support at 3,223.
Finally, the Russell looks to break out over 943 and stall at
945, with lower support set at 938.
Top Headline Yesterday, Men's Wearhouse (NYSE:
) reported a wider-than-expected fourth-quarter loss and
announced its plans to explore strategic alternatives for its
K&G business. Men's Wearhouse posted a quarterly loss of $3.4
million, versus a year-ago loss of $3.8 million. On a per-share
basis, the loss came in at $0.07 per share. Its revenue gained
8.2% to $608.4 million. Equities Trading UP Men's Wearhouse
) shot up 20.95 percent to $35.16 after company announced its
plans to explore strategic alternatives for its K&G business.
Shares of Ebix (NASDAQ:
) got a boost, shooting up 9.65 percent to $17.04 after the
company reported a 9% rise in its Q4 diluted earnings per share.
) was also up, gaining 5.55 percent to $21.30 after the company
reported Q4 results and announced plans to buy Illinois power
plants from Ameren.
Equities Trading DOWN E*TRADE Financial (NASDAQ:
) shares tumbled 6.61 percent to $11.04. Citadel LLC is selling
its 9.6% stake in the company, according to Reuters. U.S. Silica
) was also down, falling 3.99 percent to $21.88 after the company
priced an underwritten secondary public offering of 8,500,000
shares at $22.00 per share.
Shares of Vera Bradley (NASDAQ:
) were down 8.18 percent to $22.85 after the company issued weak
Commodities In commodity news, oil traded up 0.36 percent to
$92.85, while gold traded up 0.04 percent to $1,589.00. Silver
traded down 0.56 percent Thursday to $28.79, while copper rose
0.18 percent to $3.53.
Euro zone European shares were higher in early trade following
the dovish comments from the ECB and also on stronger than
expected Spanish retail sales data. The Spanish Ibex Index gained
1.93 percent and the Italian FTSE MIB Index surged 2.21 percent.
The STOXX Europe 600 Index rose 1.02 percent, London's FTSE 100
Index rose 0.76 percent, French CAC 40 Index climbed 0.82 percent
and German DAX 30 index rose 1 percent. Economics US jobless
claims declined 10,000 to 332,000 in the recent week ended March
9. However, economists were expecting claims to increase to
350,000. US wholesale prices rose 0.7% in February, while core
wholesale prices increased 0.2%. However, economists were
expecting a 0.8% rise in the PPI and a 0.2% gain in core PPI. US
current account deficit declined to $110.4 billion in the fourth
quarter. However, economists expected the deficit to rise to
around $112 billion. The Bloomberg Consumer Comfort Index rose to
minus 31.6 in the recent week ended March 10, versus minus 32.4
in the earlier period. Natural gas supplies dropped 145 billion
cubic feet for the latest week ended March 8, according to the
EIA. However, analysts were expecting a fall between 133 billion
and 137 billion cubic feet. The Treasury is set to auction
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
Profit with More New & Research
. Gain access to a streaming platform with all the information
you need to invest better today.
Click here to start your 14 Day Trial of Benzinga