|Back to main|
Mid-Day Market Update: Gun Stocks Continue to Rally, Markets Go Red
12/19/2012 1:35:00 PM
Mid-way through trading Wednesday, the Dow traded down 0.16 percent to 13,329.93 while the NASDAQ fell 0.05 percent to 3,052.86. The S&P also fell, decreasing 0.27 percent to 1,442.25.
Equities Trading UP
Shares of Knight Capital Group (NYSE: KCG ) were up as well, gaining 6.01 percent to $3.53 after the announcement that Getco would acquire the company this morning.
Smith & Wesson (NASDAQ: SWHC ) traded up 8.87 percent to $8.48 after taking a beating over the past few days. The rally was a common theme across the gun stocks Wednesday morning as news of increased firearm sales in the wake of the Newton shooting Friday reached the street.
Equities Trading DOWN
Affymax (NASDAQ: AFFY ) was also down, dropping 10.00 percent to $20.07 after its drug Omontys' sales fell 23 percent in November.
Finally, Shares of Actuant (NYSE: ATU ) were down as well, falling 6.72 percent to $27.61 after posting an earnings and revenue miss before the market opening Wednesday.
Silver traded down 0.51 percent Wednesday to $31.09.
While a nearing deal in Washington helped fuel the rally, German business confidence lent a hand as it rose to 102.4 , forecasting future growth in the Euro zone's biggest economy.
Housing starts were not so optimistic, coming in at -3.0 percent, below the expected -2.5 percent and well below the previous release of 3.60 percent.
MBA mortgage applications were also reported, coming in at -12.30 percent, far below the last report of 6.2 percent.
(c) 2012 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.