Following the market opening Thursday, the Dow traded down
0.74 percent to 13,018.13 while the NASDAQ fell 0.72 percent to
2,968.72. The S&P also fell, decreasing 0.71 percent to
With markets quiet from holiday absences, debate over the fiscal
cliff continues in Washington with little to no progress. As the
deadline approaches for both the debt ceiling and the fiscal
cliff, markets are becoming more skeptical of a solution in the
Equities Trading UP
Deckers Outdoor (NASDAQ:
) saw a 6.68 percent boost to $37.21 after a Sterne Agee report
came out saying that UGG sales would be up in the second half of
Shares of Chemtura (NYSE:
) were also up, gaining 4.75 percent to $21.41 following an
upgrade at Longbow to Buy.
Smith & Wesson (NASDAQ:
) traded up 4.84 percent to $8.35 after the company announced it
would be boosting its stock buyback plan.
Equities Trading DOWN
) took a hit in early trading, falling 1.62 percent to $8.26
after the company hit the ex dividend date for its yearly
Marvell Technology (NASDAQ:
) continued its fall from yesterday, dropping another 3.11
percent to $7.17 this morning on the jury ruling that it had
infringed on Carnegie Mellon's patents and a subsequent downgrade
at JMP Securities.
Georgia Gulf (NYSE:
) was also down, falling 2.51 percent to $40.77 after a fire in a
In commodity news, oil traded up 0.20 percent to $91.16, while
gold traded down 0.22 percent to $1,657.80.
Silver traded up 0.12 percent Thursday to $30.16.
In the Euro zone this morning, markets reopened after the break
for boxing day. The results were mixed with Spanish shares
falling while Italian, German, French, and U.K. shares rose.
In economic news Thursday morning, initial jobless claims were
reported at 350.0 thousand, below the expected 360.0 thousand and
the prior report of 362.0 thousand.
Continuing claims were reported as well, coming in at 3.206
million, edging higher than the expected 3.20 million, but
remaining below the previous release of 3.225 million.
New home sales month over month came in at 4.4 percent, well
above the anticipated 3.3 percent and the prior report of -3.5
Finally, CB consumer confidence came in at 65.10, below the
projected 70.00 and the prior report of 71.50.
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