Markets

Stocks Stage a Late Rally While Facebook Soars

The S&P 500 (INDEXSP:.INX) finished the day up 0.30% following a late-day surge.

Durable goods came in better than expected, rising 4.2% month over month versus the 1.5% consensus. Last month's figure was revised up to 5.2% from 3.6%. New orders ex-transports rose less than expected, coming in flat versus the 0.6% consensus.

On the employment front, initial jobless claims came in slightly worse than expected at 343K, which was 2K more than the consensus.

Gold was up 0.9% on the day to $1,330 per ounce. The 10-year yield jumped 2 bps to 2.61%.

The SPDR S&P Homebuilders ETF (NYSEARCA:XHB) fell 2.5% on the day after two major homebuilders reported disappointing earnings. D.R. Horton ( DHI ) fell 9% after missing analysts' estimates while PulteGroup ( PHM ) shares dropped 12% after doing the same.

Facebook ( FB ) shares rocketed up 26% after topping Wall Street's expectations by an enormous margin as the company reported a surge in mobile advertisements.

This morning Great Britain released GDP of 0.6%, in-line with analysts' estimates.

Tomorrow's Financial Outlook

The University of Michigan consumer sentiment report is due outtomorrow at 9:55 a.m. EDT . The index is expected to record a reading of 84.0.

Tyco International ( TYC ), LyondellBasell ( LYB ), and Aon (AON) are among the companies reporting earningstomorrow .

Twitter: @Minyanville

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


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

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