Stocks are flat after opening lower this morning. Economic
reports had mixed results as the Federal Open Market Committee
begins its two-day meeting today.The
(INDEXDJX:.DJI) decreased 0.11% to 14,802.47. The
(INDEXSP:.INX) climbed 0.02% to 1,593.94, and the
(INDEXNASDAQ:.IXIC) rose 0.34% to 3,318.27.
S&P Dow Jones Indices reported today that the 10-City and
20-City Composites of its S&P/ Case-Shiller Home Price Indices
showed average home prices increased 8.6% and 9.3% respectively for
the 12 months ending in February of this year. From January to
February, the 10-City Composite rose 0.4% and the 20-City Composite
increased 0.3%. Read the full report
The Institute for Supply Management - Chicago and Deutsche BÃ¶rse
AG released their ISM-Chicago Business Survey and MNI Chicago
Report. The report stated that the Chicago Business Barometer fell
3.4 from 52.4 to a seasonally adjusted 49.0 in April, a 3.5-year
low. A reading below 50 indicates contraction in business activity
month-over-month. The new orders component showed the only
improvement from March, gaining 0.2 to 53.2. Read the full report
The Conference Board reported today that its Consumer Confidence
Index increased from 61.9 in March to 68.1 in April. Read the press
State Street Global Markets, the investment research and trading
arm of State Street Corporation, reported today that its Global
Investor Confidence Index, which measures confidence based on
actual levels of risk in investment portfolios, increased 5.5
points from 88.1 in March to 93.6 in April. Confidence from North
American institutions helped raise the index as the region's
confidence index increased 10.2 points from 95.6 to 105.8. Read the
The Bureau of Labor Statistics reported today that its Employment
Cost Index, which measures compensation costs for civilian workers,
increased 0.3% for the 3-month period ending in March from the
fourth quarter of 2012. Year-over-year, compensation costs for
civilian workers increased 1.8% from the first quarter of 2012.
Read the press release
The International Council of Shopping Centers reported today that
ICSC-Goldman Store Sales Index
, which measures comparable store sales at major retail chains,
increased 0.4% week-over-week for the week ending April 27.
Year-over-year the index increased 2.6%.
Redbook Research reported today that its
Johnson Redbook Index
, which measures sales at chain stores, discounters, and department
stores, increased 2.8% year-over-year for the week ending April 27.
Month-to-month, the index has declined 2.5% from March to April.
Redbook says that cold weather hurt sales of spring apparel.
The US Treasury reported today that it auctioned $30 billion worth
of 4-week Treasury bills with a 0.025% rate and with a 4.93
bid-to-cover ratio and $23 billion worth of 52-week Treasury bills
with a 0.105% rate and with a bid-to-cover ratio of 4.91.
The National Agricultural Statistics Service of the Department of
Agriculture will release the index of prices received by farmers
for April at 3 p.m. EDT.
) rose 2.08% to $439.06. The tech company has received more than
$50 billion in orders for its 6-part debt sale. Apple will issue
3-year and 5-year fixed and floating-rate notes, plus 10-year and
30-year fixed rate notes.
) fell 3.14% to $29.48. The biopharmaceutical company reported its
first-quarter results today. It earned $2.75 billion, or $0.38 per
share, compared to $1.79 billion, or $0.24 per share, in the
prior-year quarter. Excluding special items, Pfizer earned $0.54
per share. Its revenue fell 9% year-over-year to $13.5 billion.
The company also lowered its full-year earnings estimate from
between $2.20 and $2.30 per share to between $2.14 and $2.24 per
Newmont Mining Corporation
) plunged 7.39% to $31.46. The largest US gold producer reported
its first-quarter results yesterday. Its net income decline to $315
million, or $0.63 per share, from $490 million, or $0.97 per share,
in the prior-year quarter. After excluding one-time items, the
mining company earned $0.71 per share. Sales declines to $2.18 from
$2.68 billion a year ago.
Best Buy Corporation
) spiked 8.35% to $26.22. The world's largest consumer-electronics
retailer announced it will sell its 50% stake in a mobile-phone
venture to its partner Carphone Warehouse Group for 500 million
pounds, or $775 million. Best Buy CEO Hubert Joly wants to
liquidate some of its units to free up cash and resources.
Advanced Micro Devices
) jumped 3.92% to $2.79.