The Dow Jones Industrials Average hit another record high on
Monday, led by gains in banking stocks as well as a flood of merger
activity in the pharmaceutical sector. Shares of Citigroup (
) are nearly 4% higher after the banking giant reported
better-than-expected earnings, overshadowing its $7 billion
settlement with the U.S. Justice Department and fueling a
triple-digit gain in the blue-chip index.
Also aiding the rally across Wall Street are cheaper energy
costs as the price of oil fell to a nine-week low, declining for
the ninth time in 11 trading days. Gold also slipped to its lowest
price in over three weeks at $1,302 per ounce as demand for riskier
European markets got a boost as worries over the fall-out from
the missed debt payment from Portugal's Banco Espirito Santo were
calmed. German's celebrated their World Cup win by sending the
DAX-100 more than 1% higher, outperforming its European
Crude oil was down $0.15 to $100.68 per barrel. Natural gas was
down $0.02 to $4.11 per 1 million BTU. Gold recently was down
$28.70 to $1,308.10 an ounce, while silver was down $0.51 to $20.96
an ounce. Copper was down $0.01 to $3.26 per pound.
Among energy ETFs, the United States Oil Fund was unchanged at
$37.16 with the United States Natural Gas Fund was down 0.48% to
$22.74. Amongst precious-metal funds, the Market Vectors Gold
Miners ETF was down 2.08% 26.73 while SPDR Gold Shares was down
2.31% to $125.81.The iShares Silver Trust was down 2.48% to
Here's where the U.S. markets stand at mid-day:
NYSE Composite Index up 64.61 (+0.59%) to 11,000.96
Dow Jones Industrial Average up 132.13 (+0.78%) to 17,075.94
S&P 500 up 10.74 (+0.55%) to 1,978.31
Nasdaq Composite Index up 29.04 (+0.66%) to 4,444.53
Nikkei 225 Index up 0.88%
Hang Seng Index up 0.49%
Shanghai China Composite Index up 0.96%
FTSE 100 Index up 0.84%
CAC 40 up 0.78%
DAX up 1.21%
NYSE SECTOR INDICES
NYSE Energy Sector Index up 0.40%
NYSE Financial Sector Index up 0.81%
NYSE Healthcare Sector Index up 0.30%
(+) PGNX (+8.96%) FDA approved Salix Pharmaceuticals (
) and Progenics Pharmaceuticals' RELISTOR.
(+) EXEL (+9.77%) Positive results on Phase 3 Trial of melanoma
(+) PCYO (+7.68%) Settles litigation with litigation Colorado's
State Land Board.
(+) BTX (+7.41%) Issued 14 patents in regenerative medicine.
(-) HLIT (-10.52%) Cuts Q2 guidance below prior view, street
(-) GTAT (-4.74%) CLSA downgrades earnings estimates based on
decline in sapphire production.
(-) RVBD (-5.55%) Lowers Q2 guidance below street, sees EPS at
lower end of outlook.
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