dimanche 9 février 2014
Markets Mixed Closing News 11/29/13
a US stocks were mixed as the Dow and S&P gave back earlier gains in the shortened Black Friday session as investors primarily focused on traffic and sales updates in the retail sector. Technology and Discretionary led positive names on the S&P 500 while Telecom and Industrials topped declines. Crude Oil and Gold are rebounding from six- and near five-month lows, respectively, amid a weaker dollar. In global economic news, Eurozone unemployment unexpectedly fell for the first time since February 2011, dropping to 12.1% in October from 12.2 in September. Meanwhile, inflation has risen a preliminary 0.9% in November from 0.7% in October, but it still remains well below the ECB's target of just under 2%.In Asia, Japan's "core" CPI, which excludes energy and fresh food, rose 0.3% on year in October, the first gain for five years and the biggest increase since 1998. Unemployment held steady in October, while manufacturing PMI rose in November from. However, October industrial production improved just 0.5% on month and badly missed expectations.Market Indices/Statistics:Dow closed down 11.75 pts/ -0.07% to 16,085.22; 18 of the 30 Dow stocks closed lower.S&P closed down 1.43 pts/ -0.08% to 1,805.80; 8 of the 10 S&P 500 sectors closed lower.Nasdaq closed up 15.14 pts/ +0.37% to 4,059.89Technology the strongest sector (+0.46%), Telecomm was the weakest (-0.48%).The VIX is up 0.75 at 13.73Gold is up 13.1 to 1250.9Oil is up 1.10 to 93.39Nat Gas is up 0.026 to 3.921Yen vs. Dollar is up 0.15 to 102.44 Euro vs. Dollar is down 0.0018 to 1.3585The ICE Dollar Index (USDX) is flat.Top Headlines: In the retail space, Wal-Mart Stores (NYSE: WMT, $81.01, +0.10%) provided its usual early-morning update and announced that it had processed more than 10M transactions between 6 and 10 PM, and noted that their online site had nearly 400M page views on Thanksgiving Day. Target Corp. (NYSE: TGT, $63.93, -0.75%) also issued a release that highlighted traffic and sales as among the highest it had seen in a single day.A unit of Document Security Systems (NYSE MKT: DSS, $2.13) which develops and integrates security technology, filed a patent lawsuit against Apple Inc. (AAPL, $556.46). The case centers on patents related to the use of wireless peripheral devices. Shares of Document Security Systems rose sharply in post-mkt trading following the filing on Wednesday, and held those gains to finish today’s session 13.3% higher. Renren Inc. (NYSE: RENN, $2.98) revenue fell while overall expenses surged, driving the Chinese social networking company to a wider loss in the third quarter while fourth-quarter guidance came in well below expectations. American depositary shares of RENN fell 11.04%. The Australian government has rejected Archer Daniels Midland's (NYSE: ADM, $40.25) $2.6B takeover bid for GrainCorp on Friday, bowing to pressure from grain growers in a rare and surprising decision. GrainCorp shares plunged more than 20% in Australian trading, while shares of ADM slipped 2.99% on the NYSE. The week ahead: Dec 2nd- Dec 6thThe coming week looks to be an active one ahead of the year-end holiday slowdown. The economic calendar includes the ISM manufacturing index to begin the week, along with Friday's release of the November employment data in the US; the report is likely to be closely watched given ongoing discussion around a possible December taper. Overseas the focus will be on November manufacturing surveys along with the ECB meeting on Thursday. The corporate calendar is also fairly robust, with a large batch of sell-side conferences that could provide inventors insight into fourth quarter trends - while US auto sales and chain store reports round out the schedule.Coming Monday U.S. Economic Reports: Markit PMI Manufacturing (Nov) at 8:58amISM Manufacturing Index (Nov) at 10:00amConstruction Spending (Sept/Oct) at 10:00am, Sept. consensus +0.5%, prior +0.6% (no Oct. estimates) Earnings Monday: Streamline Health (STRM) est. (0.01); Ascena Retail Group (ASNA) est. 0.32c; ChinaEdu (CEDU) est. 0.14c ; Envivio (ENVI) est. (0.10) ; Gordmans (GMAN) est. 0.13c ; Keynote Systems (KEYN) est. 0.13c ; Krispy Kreme (KKD) est. 0.15c ; Thor Industries (THO) est. 0.70cHere at the NYSE At the open:On Monday, December 2, Vale S.A.(NYSE: VALE), a global leader in metals and mining, will visit the New York Stock Exchange(NYSE) in conjunction with the company’s investor day. This year’s Capital Markets event will feature a live webcastand press conference from 1:45 pm to 2:45 pm (EST). Discussions led by Vale executives, including CEO Murilo Ferreira and CFO Luciano Ciano, will showcase the company’s development and industry trends.To highlight the occasion, CEO Murilo Ferreira, accompanied by members of the company’s leadership team, will ring the NYSE Opening Bell.At the close: Executives and guests of Fibria Celulose S.A. (NYSE: FBR) will visit the New York Stock Exchange (NYSE) in conjunction with the company’s investor/analyst day. Please remember to check in with us every morning for the NYSE Morning Update! http://exchanges.nyx.com/parasnand-madho/Thanks and enjoy the weekend!
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