Stocks Gain as Fed Maintains Asset Purchases; Jobless Claims Less Than Expected

By Staff,

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US stock futures were higher Thursday, extending yesterday's surge in the wake of the U.S. Federal Reserve's decision to keep buying about $85 billion in assets every month. The Fed had been expected to start weaning markets off the asset purchases - known as quantitative easing - cutting back on purchases by about $10 billion monthly.

Stock markets made sharp gains here and abroad on Fed Chairman Ben Bernanke's announcement, even as the Fed cut its projection for 2013 economic growth to between 2.0% and 2.3%, down from the June estimate between 2.3% and 2.6%.

Meanwhile, weekly initial jobless claims rose 15,000 to 309,000, less than the consensus estimate of 341,000.

In equities, Oracle ( ORCL ) slipped 0.80% pre-market as its Q2 revenue grew less than the market had expected. Agilent Technologies ( A ) meanwhile added nearly 8% after saying it plans to split in two to better capitalize on the company's assets.


-Dow Jones Industrial up 0.10%

-S&P 500 futures up 0.27%

-Nasdaq 100 futures up 0.25%

-Nasdaq-100 Pre-Market Indicator up 0.24%


Nikkei up 1.80%

Hang Seng up 1.67%

Shanghai Composite up 0.29%

FTSE-100 up 1.39%

DAX-30 up 1.03%


(+) Large cap tech: higher

(+) Chip stocks: higher

(+) Software stocks: higher

(+) Hardware stocks: higher

(+) Internet stocks: higher

(-) Drug stocks: lower

(+) Financial stocks: higher

(+/-) Retail stocks: unchanged

(+) Industrial stocks: higher

(+/-) Airlines: unchanged

(+) Autos: higher


(+) ACUR (+21.19%) Meth-resistant pseudoephedrine drug gets repeat orders

(+) RAD (+12.13%) Q2 beat views and raised its FY guidance

(+) BMRN (+3.24%) Roche seen buying company for between $95 and $105 per share

(+) TTWO (+4.07%) Grand Theft Auto game sales exceeded $800 million


(-) FSC (-3.42%) Company is selling 15 million shares to repay debt

(-) ROYT (-7.12%) Shareholders plan to sell 13.5 million, or 40%, of shares

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: A , ORCL

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