Volatility Is Back, Jack

By
A A A
Share |

The S&P 500 (INDEXSP:INX) closed down 0.6% t oday as volatility finally returned to equity markets.

The international trade deficit came in narrower than anticipated at -$34.2 billion vs. the -$44.1 consensus. Federal Reserve Bank of Chicago President Charles Evans said that he expects QE3 to be completely finished by mid-2014, with total purchases of $1.2 trillion between January 2013 and then.

Correspondingly, the resurgent 'taper talk' had a negative impact on European stocks, which declined on speculation that the Fed may cut its QE activities sooner than expected. The DAX Performance-Index (INDEXDB:DAX) traded down 1.17%.

Gold dropped 1.6% to $1,281 per ounce. Crude fell 1.1% to $105.37 per barrel.

The SPDR S&P Homebuilders ETF (NYSEARCA:XHB) was a notable underperformer today, closing down 2.5%.

Jeff Bezos, CEO of Amazon.com, Inc. ( AMZN ) purchased the Washington Post for $250 million yesterday afternoon.

Shares of JC Penney Company, Inc. ( JCP ) plunged more than 6% after an analyst at Morgan Stanley ( MS ) downgraded the stock.

American Eagle Outfitters ( AEO ) tumbled 14.5% after missing earnings estimates.

Tomorrow's Financial Outlook

Tesla Motors Inc ( TSLA ), Green Mountain Coffee Roasters Inc. (GMCR), Ralph Lauren Corp (RL), and Time Warner Inc (TWX) are the notable companies reporting earningstomorrow .

The President of the Federal Reserve Bank of Philadelphia, Charles Plosser, will be speaking in Washingtontomorrow at 12:30 p.m. EDT .

The President of the Federal Reserve Bank of Cleveland, Sandra Pianalto, will be speaking in Cleveland at1:40 p.m.

Twitter: @Minyanville



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



This article appears in: Investing , Stocks

Referenced Stocks: AEO , AMZN , JCP , MS , TSLA

Minyanville

Minyanville

More from Minyanville:

Related Videos

Stocks

Referenced

Most Active by Volume

152,099,280
  • $16.13 ▼ 1.59%
76,450,549
  • $59.72 ▲ 1.07%
57,375,391
  • $36.35 ▲ 6.26%
50,140,425
  • $26.93 ▲ 0.60%
49,201,544
  • $3.17 ▲ 2.59%
39,533,031
  • $86.18 ▲ 1.33%
36,760,050
  • $13.42 ▲ 2.84%
33,109,047
  • $26.12 ▲ 1.16%
As of 4/16/2014, 04:05 PM