Monday Closing Bell: Markets Hold Afternoon Gains

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October 14, 2013: U.S. markets opened lower Monday morning as concerns rose again over the stalemate in Washington. News that a meeting among Senate leaders may be producing some results boosted equities above the break-even line in the early afternoon. Is gold better for investors or are equities the better bet?

European and Asian markets closed higher today and Latin American markets were mixed.

Tuesday’s calendar includes speech by New York Fed President William Dudley, San Francisco Fed President John Williams, and Dallas Fed President Richard Fisher and the following scheduled data releases and events (all times Eastern):

  • 8:30 a.m. – Empire State manufacturing survey
  • 11:30 a.m. – 3- and 6-month bill auctions

Here are the closing bell levels for Friday:

  • S&P500 1,710.14 (+6.94; +0.41%)
  • DJIA 15,301.26 (+64.15; +0.42%)
  • NASDAQ 3815.27 (+23.40; +0.62%)
  • 10YR TNOTE 2.692% (flat)
  • Gold $1,276.60 (+8.40; +0.7%)
  • WTI Crude oil $102.41 (+0.39; +0.4%)
  • Euro/Dollar: 1.3563 (+0.0002; +0.01%)

There were no notable earnings releases on Monday.

Stocks on the Move: Coronado Biosciences Inc. (NASDAQ: CNDO) is down 66.9% at $1.91 on the failure of its Crohn’s disease treatment in a trial. Advanced Micro Devices Inc. (NYSE: AMD) is up 3.7% at $3.97 on an analyst’s upgrade. Vale SA (NYSE: VALE) is up 4.6% at $16.23 following a report that China’s September imports of iron ore reached record levels.

In all, 185 NYSE stocks put up new 52-week highs today, while only 27 stocks posted new lows.

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