Stocks are little changed today after existing home sales
decreased month-over-month. The
(INDEXDJX:.DJI) decreased 0.14% to 14,526.51. The
(INDEXSP:.INX) climbed 0.17% to 1,557.87, and the
(INDEXNASDAQ:.IXIC) rose 0.54% to 3,223.35.
The Federal Reserve Bank of Chicago reported today that its
National Activity Index fell to -0.23 in March from 0.76 in
February. A negative reading indicates below average economic
growth. The three-month moving average fell to -0.1 from 0.12 in
February. Production related indicators made the only positive
contribution to the index while the other three components pulled
down the index. Read the full report
The National Association of Realtors reported today that
existing-home sales decreased a monthly 0.6% from 4.95 million in
February to a seasonally adjusted 4.92 million in March.
Year-over-year, existing home sales increased increased 10.3% from
4.46 million in March 2012. Read the press release
The US Treasury announced today that it will offer $40 billion of
4-week Treasury bills tomorrow. The Treasury also reported today
that it auctioned $32 billion worth of 3-month Treasury bills with
a 0.050% rate with a 4.75 bid-to-cover ration and $28 billion worth
of 6-month Treasury bills with a 0.085% rate with a 5.14
(NASDAQ:AAPl) increased 1.42% to $396.08. Apple will report
quarterly earnings tomorrow.
) jumped 4.49% to $38.88. The company reported a $18 million
first-quarter loss, or $0.02 per share, versus a profit $627
million, or $0.68 per share, in the prior-year quarter. The loss
includes an after-tax charge of $637 million; excluding the charge,
income from operations was $624 million, or $0.67 per share.
Quarterly revenue increased to $6.97 billion from $6.87 billion in
the prior-year quarter.
) rose 3.91% to $30.93. CNBC reported that activist fund ValueAct
Capital Management has acquired a $2 billion stake in Microsoft.
) fell 2.19% to $21.27. JPMorgan analysts cut their rating of the
company from "Overweight" to "Neutral," saying the stock could no
longer be called a "safety stock" because of slower industrial
Cliffs Natural Resources
) decreased 1.51% to $17.36.