The U.S. dollar index is trading down 0.09% today, now at 80.6820. The GSCI commodity index is up 0.4% at 626.36. WTI crude oil closed up 1.2% today, at $98.25 a barrel to post a 1.9% gain for the week. Brent crude trades up 0.8% at $105.77 a barrel. Natural gas is down 2% today at about $3.74 per million BTUs. Gold settled up 0.7% today at $1,387.60 to close the week up 0.4%.
The unofficial closing bells put the DJIA down more than 106 points to 15,070.18 (-0.70%), the NASDAQ fell nearly 22 points (-0.63%) to 3,423.56, and the S&P 500 -0.59% or nearly 10 points to 1,626.72.
There were a several analyst upgrades and downgrades today, including:
- AngloGold Ashanti Ltd. (NYSE: AU) cut to ‘sell’ at UBS;
- American Express Co. (NYSE: AXP) cut to ‘equal weight’ at Barclays;
- SolarCity Corp. (NASDAQ: SCTY) raised to ‘outperform’ at Credit Suisse;
- E.I. du Pont de Nemours & Co. (NYSE: DD) cut to ‘neutral’ at BofA/Merrill Lynch; and
- Groupon Inc. (NASDAQ: GRPN) raised to ‘buy’ at Deutsche Bank.
Earnings reports since markets closed last night resulted in some price moves in the last half hour of trading today:
- Capstone Turbine Corp. (NASDAQ: CPST) is down 9.4% at $1.16;
- Restoration Hardware Holdings Inc. (NYSE: RH) is up 16.6% at $68.75 after posting a new 52-week high of $70.41 earlier today;
- American Superconductor Corp. (NASDAQ: AMSC) is down 11.1% at $2.36; and
- Smithfield Foods Inc. (NYSE: SFD) is unchanged at $32.81, which is no surprise.
We are not scheduled to get any notable earnings before markets open Monday morning. Later next week we’ll get earnings reports from Adobe Systems Inc. (NASDAQ: ADBE), FedEx Corp. (NYSE: FDX), Jabil Circuit Inc. (NYSE: JBL), Oracle Corp. (NASDAQ: ORCL), and Carnival Corp. (NYSE: CCL).
Some standouts among heavily traded stocks today include:
Walter Energy Inc. (NYSE: WLT) is down 17.3% at $12.13 after posting a new 52-week low of $11.76 earlier today. The coal miner’s stock plunged following a report that it had canceled a proposed $1.55 billion loan refinancing.
Codexis Inc. (NASDAQ: CDXS) is up 30.8% at $2.84. The biofuel and chemical production company announced that it had scaled up its production of detergent alcohols made from cellulosic sugars at its plant in Italy.
Myriad Genetics Inc. (NASDAQ: MYGN) is down 13.8% at $27.61. The molecular diagnostic company lost a Supreme Court ruling in a patent case yesterday, and today’s reaction follows a slide following that ruling.
Stay tuned for Monday. We have noted the following events on the schedule (all times Eastern):
- 8:30 a.m. – Empire State manufacturing survey
- 10:00 a.m. – Housing market index
- 11:30 a.m. – 3- and 6-month bill auctions
Have a great weekend!