Thursday Closing Bell: Markets Rally on Hopes for End to Crisis

October 10, 2013: U.S. markets opened higher Thursday morning and then rose further on news of new talks that would lead to a solution on the debt ceiling. Today’s report on new claims for unemployment benefits was worse than expected, but a technical problem in California and the federal government shutdown got the blame for the poor showing.

Asian markets closed mixed today, while European, and Latin American markets closed higher.

Friday’s calendar includes speeches Fed Governor Jerome Stein and Boston Fed President Eric Rosengren and the following scheduled data releases and events (all times Eastern):

• 8:30 a.m. – Producer price index
• 8:30 a.m. – Retail sales
• 9:55 a.m. – University of Michigan/Thomson Reuters consumer sentiment index
• 10:00 a.m. – Business inventories

Here are the closing bell levels for Thursday:

• S&P500 1,692.56 (+36.16; +0.06%)
• DJIA 15,126.07 (+323.09; +2.18%)
• NASDAQ 3760.75 (+82.97; +2.18%)
• 10YR TNOTE 2.695% (-0.28125)
• Gold $1,296.90 (-10.30; -0.8%)
• WTI Crude oil $103.01 (+1.40; +1.4%)
• Euro/Dollar: 1.3522 (-0.0001; -0.00%)

Big Earnings Movers: Ruby Tuesday Inc. (NYSE: RT) is down 17.1% at $6.26. Micron Technology Inc. (NASDAQ: MU) and Safeway Inc. (NYSE: SWY) are scheduled to report earnings after markets close Thursday.

Stocks on the Move: Antero Resources Corp. (NYSE: AR) is up 18.2% at $52.01 following its IPO this morning. MacroGenics Inc. (NASDAQ: MGNX) is up 55.7% at $24.91 after an IPO this morning of 4 million shares at $16 a share. Citrix Systems Inc. (NASDAQ: CTXS) is down 11.8% at $58.78 after issuing a profit warning.

In all, 111 NYSE stocks put up new 52-week highs today, while 20 stocks posted new lows.