Stock prices are mixed today, reversing a three-day winning
streak with talks among U.S. political leaders reportedly set to
resume later today - just three days before the federal government
runs out of borrowing authority to pay its bills. An undercurrent
of hope lawmakers will be able to cobble together a last-minute
deal is limiting earlier losses, including the Nasdaq Composite
turning positive over the past hour, although volume is very light
because of the Columbus Day holiday.
European markets were mixed at the close as worries over the
potential impact of a U.S. default were offset by upbeat industrial
production data in the UK and positive Chinese trade data. A
flight-to-safety again bolstered gold and gold stocks allowing the
FTSE to close narrowly on the plus side. Germany's DAX, however,
was slightly lower at the close.
Crude oil was down $0.49 to $101.57 per barrel. Natural gas was
down $0.01 to $4.02 per 1 million BTU. Gold was up $12.30 to
$1,280.80 an ounce, while silver was up $0.20 to $21.46 an ounce.
Copper was up $0.03 to $3.30 per pound.
Among energy ETFs, the United States Oil Fund was down 0.03% to
$36.75 with the United States Natural Gas Fund was up 0.18% to
$19.46. Amongst precious-metal funds, the Market Vectors Gold
Miners ETF was down 0.43% to 23.00 while SPDR Gold Shares were up
0.81% to $123.58. The iShares Silver Trust was up 0.73% to
Here's where the markets stand at mid-day:
Dow Jones Industrial Average down 26.65 (-0.17%) to
S&P 500 down 2.90 (-0.17%) to 1,700.30
Nasdaq Composite Index up 1.54 (+0.04%) to 3,793.41
Nikkei 225 Index up 1.48%
Hang Seng Index up 1.16%
Shanghai China Composite Index up 0.43%
FTSE 100 Index up 0.32%
CAC 40 up 0.07%
DAX down 0.01%
NYSE SECTOR INDICES
NYSE Energy Sector Index up 0.13%
NYSE Financial Sector Index down 0.22%
NYSE Healthcare Sector Index down 0.01%
(+) NFLX (+4.8%) The company is in discussions with major
cable-television operators to add its streaming video service to
(+) ATRS (+8.4%) OTREXUP (methotrexate) injection was approved
by the U.S. Food and Drug Administration (FDA).
(+) IBIO (+16.0%) Its updated plan of compliance was accepted by
the NYSE MKT exchange, which granted the company an extension until
Dec. 2 to regain compliance with listing standards.
(-) EXPE (-7.4%) Downgraded by Deutsche Bank to Hold from Buy
and the price target was slashed 22%
(-) FICO (-4.1%) Cut full fiscal year GAAP EPS to $2.47 and
$2.51 per share, lower than the full-year GAAP earnings per diluted
share guidance of $2.61 to $2.70 and expectations for $2.81.
(-) ERIC (-2.2%) Downgraded to underweight from equal weight at
Barclays Plc, which said Q3 earnings may disappoint.
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