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Stocks Continue to Climb As Fed Poised to Keep QE Alone

By: MT Newswires
Posted: 10/30/2013 9:10:00 AM
Referenced Stocks: CMCSA;S

Stock futures are extending Tuesday's record highs, shrugging off disappointing earnings from Comcast ( CMCSA ) and lower revenue from Sprint ( S ), to trade with impressive gains amid expectations that the Federal Reserve will continue to provide ample liquidity to the financial markets at the conclusion of today's FOMC meeting. European markets were all higher as well following the lead of the U.S. combined with bullish economic data, including an expansion in Spanish GDP and improvement in the EU business and consumer environment.

A significant drop in the number of new private payrolls had little impact on the futures market this morning with ADP payrolls falling 15,000 in October from a downwardly revised 145,000 in September. September CPI increased a benign 0.2%, largely the result of a 0.8% gain in energy prices.

-Dow Jones Industrial up 0.29%

-S&P 500 futures up 0.19%

-Nasdaq 100 futures up 0.44%


Nikkei up 1.23%

Hang Seng up 2.00%

Shanghai Composite up 1.48%

FTSE-100 up 0.42%

DAX-30 up 0.26%


(+) Large cap tech: higher

(+) Chip stocks: higher

(+) Software stocks: higher

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+/-) Drug stocks: mixed

(+) Financial stocks: higher

(+) Retail stocks: higher

(+) Industrial stocks: higher

(+) Airlines: higher

(+) Autos higher


BIDU (+5.36%) The company reported Q3 earnings of $1.48, vs. expectations of $1.45.

EA (+6.30%) The video game maker reported non-GAAP EPS of $0.33 topping estimates for EPS of $0.12

BWLD (+6.98%) Reported Q3 EPS of $0.95, beating estimates by $0.10. Revenues of $315.8 million also topped the consensus of $311.94 million.


YELP (-9.56%) Reported a loss of $0.04 per share.

CYNI (-18.70%) The company expects a Q4 loss per share of $0.24 - $0.19 on revenues of $30 million - $33 million, below the Street view of $0.08 loss per share on revenues of $46.10 million.

MACK (-18.05%) Phase 2 Study of MM-121 combined with Paclitaxel to treat patients with platinum-resistant or advanced ovarian cancers failed to meet primary endpoints.