Buoyed by upbeat earnings from Ralph Lauren (
) and Molson Coors (
) as well as a flood of well-received IPOs, the Dow Industrials and
S&P 500 indices have more than erased yesterday's losses, again
trading at new all-time highs.
But the Nasdaq Composite index remains in negative territory
today following disappointing results from electric-car
manufacturer Tesla Motors (
) along with losses for social-networking stocks ahead of Twitter's
) initial public offering tomorrow.
Economic data today was largely a non-event, with the Conference
Board reporting leading economic indicators rose 0.7% in September,
the second month in a row the economic gauge rose 0.7% over
year-ago levels. It also narrowly beat market expectations, with
experts polled by Bloomberg News expecting a 0.6%
European equities were mixed as investors positioned before
European Central Bank and Bank of England policy meetings tomorrow.
Strong manufacturing data in the UK raised the odds for an upward
adjustment in rates there while strength in German factory orders
and the EU services sector is expected to prevent the ECB from
trimming its short-term rates.
Crude oil was up $1.53 to $94.90 per barrel, aided by a
smaller-than-expected rise in inventories last week. Natural gas
was up $0.04 to $3.59 per 1 million BTU. Gold is up $8.20 to
$1,316.20 an ounce, while silver was up $0.14 to $21.78 an ounce.
Copper was down $0.03 to $3.23 per pound.
Among energy ETFs, the United States Oil Fund was up 1.69% to
$34.24 with the United States Natural Gas Fund was up 1.26% to
$17.48. Amongst precious-metal funds, the Market Vectors Gold
Miners ETF was up 1.44% to 24.84 while SPDR Gold Shares were up
0.42% to $127.09. The iShares Silver Trust was up 0.35% to
Here's where the markets stand at mid-day:
NYSE Composite Index up 36.70 (+0.37%) to 10,048.62
Dow Jones Industrial Average up 93.49 (+0.60%) to 15,711.71
S&P 500 up 5.35 (+0.30%) to 1,768.32
Nasdaq Composite Index down 10.02 (-0.25%) to 3,929.85
Nikkei 225 Index up 0.79%
Hang Seng Index down 0.01%
Shanghai China Composite Index down 0.82%
FTSE 100 Index down 0.08%
CAC 40 up 0.79%
DAX up 0.35%
NYSE SECTOR INDICES
NYSE Energy Sector Index up 0.49%
NYSE Financial Sector Index up 0.40%
NYSE Healthcare Sector Index up 0.18%
(+) CUDA, (+24.9%) IPO price at $18 per share and the stock
climbing as high as $23.80 in initial trade today.
(+) REGI, (+12.3%) Reported strong Q3 earnings of $2.31 per
share, including a $1.12 benefit. The Street view of $0.59 is
usually less items.
(+) WWWW, (+10.05%) Q3 non-GAAP EPS of $0.55 beats forecasts by
$0.02 per share.
(-) TSLA (-13.3%) Reports disappointing Q3 revs of $431.3
million vs. the analyst consensus of $511 million for a loss of
$0.32 per share.
(-) ANF (-11.0%) Net sales for the thirteen weeks ended November
2, 2013 decreased 12% to $1.033 billion from $1.170 billion for the
thirteen weeks ended October 27, 2012. The retailer also warned of
a FY miss.
(-) STP (-16.0%) Begins reorganization proceedings in the Cayman
Islands with a U.S. filing also still possible.