Following the market opening Monday, the Dow traded down 0.49
percent to14,792.57 while the NASDAQ dropped 0.45 percent to
3,280.19. The S&P also fell, declining 0.57 percent to
Index Technicals: The S&P 500 looks to be finding support
today at 1580, with 1,595 acting as resistance above that.
Next up, the Dow is finding support at 14,800, while 14,900
above looks to be acting as resistance.
The NASDAQ has support at 3,270 with 3,310 as resistance
Finally, the Russell looks to find support at its 20 EMA at
937.22, with 950 as resistance above that.
Top Headline Citigroup (NYSE:
) reported a 30% rise in its first-quarter profit.
Citigroup's quarterly profit surged to $3.8 billion, or $1.23
per share, from $2.9 billion, or $1.11 per share, in the year-ago
period. Its adjusted net income came in at $1.29 per share.
Its total revenue rose to $20.5 billion, from $20.2 billion.
However, analysts were expecting earnings of $1.17 per share on
revenue of $20.16 billion. Its net interest margin widened to
Equities Trading UP Sprint Nextel (NYSE:
) shot up 16.72 percent to $7.26 after Dish Network (NASDAQ:
) offered to acquire the company in a $25.5 billion deal.
Shares of Life Technologies (NASDAQ:
) got a boost, shooting up 7.93 percent to $73.39 after Thermo
) announced its plans to buy the company for $13.6 billion.
National Financial Partners (NYSE:
) was also up, gaining 6.83 percent to $25.01 after the company
to be bought by Madison Dearborn for $25.35 per share.
Equities Trading DOWN IAMGOLD (NYSE:
) was also down, falling 12.13 percent to $5.07 after the company
reached a definitive agreement with the Government of the
Republic of Surinameapproved by the legislative authority of
Suriname, the National Assembly.
Shares of AuRico Gold (NYSE:
) were down 13.84 percent to $4.92 after the company announced
preliminary first quarter operational results.
Randgold Resources (NASDAQ:
) shares tumbled 7.32 percent to $69.76. Gold futures tumbled to
their lowest level in two years
Commodities In commodity news, oil traded down 2.18 percent to
$89.30, while gold traded down 5.69 percent to $1,416.00.
Silver traded down 9.29 percent Monday to $23.89, while copper
fell 3 percent to $3.25.
Eurozone European shares traded lower following the Asian
weakness creating global growth fears.The eurozone's trade
balance for February grew to 10.4 billion euros from a downwardly
revised 4.7 billion euro deficit in January, better than
forecasts of a 3 billion euro surplus.
The Spanish Ibex Index fell 0.46% while the Italian FTSE MIB
Index dropped 0.12 percent. Meanwhile, the German DAX fell 0.72
percent and the French CAC dropped 0.42 percent and U.K. shares
declined 0.89 percent.
Economics The New York Fed's Empire State index declined to
3.1 points in April, versus estimates of a 7.8 reading.
The NAHB housing-market index declined to 42 in April, versus
44 in March. However, economists were expecting the index to gain
to 46 in April.
The Treasury is set to auction 3- and 6-month bills.
(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