Following the market opening Thursday, the Dow traded up 0.35
percent to 14,506.50 while the NASDAQ gained 0.36 percent to
3,256.84. The S&P also rose, gaining 0.38 percent to
Index Technicals: The S&P looks to find resistance at
1,556.50 with lower support at 1,550, and lower at 1,540.
The Dow seems to find resistance in the 14,475 area with lower
intra day support set at the 14,410 area.
The NASDAQ is showing resistance at the 3,253 level, with
lower support at 3,223.
Finally, the Russell looks to break out over 943 and stall at
945, with lower support set at 938.
Top Headline Yesterday, Men's Wearhouse (NYSE:
) reported a wider-than-expected fourth-quarter loss and
announced its plans to explore strategic alternatives for its
Men's Wearhouse posted a quarterly loss of $3.4 million,
versus a year-ago loss of $3.8 million. On a per-share basis, the
loss came in at $0.07 per share. Its revenue gained 8.2% to
Equities Trading Up Men's Wearhouse (NYSE:
) shot up 11.46 percent to $32.40 after company announced its
plans to explore strategic alternatives for its K&G
Shares of Ebix (NASDAQ:
) got a boost, shooting up 10.62 percent to $17.19 after the
company reported a 9% rise in its Q4 diluted earnings per
) was also up, gaining 6 percent to $21.39 after the company
reported Q4 results and announced plans to buy Illinois power
plants from Ameren.
Equities Trading Down E*TRADE Financial (NASDAQ:
) shares tumbled 6.85 percent to $11.01. Citadel LLC is selling
its 9.6% stake in the company, according to Reuters.
U.S. Silica Holdings (NASDAQ:
) was also down, falling 4.52 percent to $21.76 after the company
priced an underwritten secondary public offering of 8,500,000
shares at $22.00 per share.
Shares of Vera Bradley (NASDAQ:
) were down 7.67 percent to $22.98 after the company issued weak
Commodities In commodity news, oil traded up 0.05 percent to
$92.57, while gold traded down 0.45 percent to $1,581.30.
Silver traded down 1.05 percent Thursday to $28.66, while
copper rose 0.23 percent to $3.53.
Eurozone European shares were mostly higher following the
dovish comments from the ECB and also on stronger than expected
Spanish retail sales data.
The Spanish Ibex Index gained 1.54 percent and the Italian
FTSE MIB Index surged 1.98 percent. The STOXX Europe 600 Index
rose 0.69 percent, London's FTSE 100 Index rose 0.39 percent,
French CAC 40 Index climbed 0.77 percent and German DAX 30 index
rose 0.95 percent.
Economics US jobless claims declined 10,000 to 332,000 in the
recent week ended March 9. However, economists were expecting
claims to increase to 350,000.
US wholesale prices rose 0.7% in February, while core
wholesale prices increased 0.2%. However, economists were
expecting a 0.8% rise in the PPI and a 0.2% gain in core PPI.
US current account deficit declined to $110.4 billion in the
fourth quarter. However, economists expected the deficit to rise
to around $112 billion.
The Bloomberg Consumer Comfort Index rose to minus 31.6 in the
recent week ended March 10, versus minus 32.4 in the earlier
The Treasury is set to auction 30-year bonds.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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