Wednesday Closing Bell: Markets Close Mixed Again as Momentum Stocks Fade

November 6, 2013 by Paul Ausick

Bull and Bear figures
Source: thinkstock
November 6, 2013: U.S. markets opened higher Wednesday morning following a reported decline in mortgage applications and investor reaction to a number of corporate earnings. The Nasdaq closed slightly lower today while the S&P 500 and the DJIA both closed higher. Crude oil prices rose following a smaller than expected rise in inventories.

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

Thursday’s calendar includes speeches by New York Fed President William Dudley and Fed Governor Jeremy Stein, October same-store sales, and the following scheduled data releases and events (all times Eastern):

  • 8:30 a.m. – GDP
  • 8:30 a.m. – New claims for unemployment benefits
  • 10:00 a.m. – Leading indicators
  • 10:30 a.m. – EIA weekly natural gas storage report
  • 3:00 p.m – Consumer credit
  • 4:30 p.m. – Fed balance sheet and money supply

Here are the closing bell levels for Wednesday:

  • S&P500 1770.48 (+7.52; +0.43%)
  • DJIA 15746.88 (+128.66; +0.82%)
  • NASDAQ 3931.95 (-7.92; -0.20%)
  • 10YR TNOTE 2.645% (+0.25)
  • Gold $1,317.80 (+9.70; +0.7%)
  • WTI Crude oil $94.80 (+1.43; +1.5%)
  • Euro/Dollar: 1.3520 (+0.0046; +0.34%)

Big Earnings Movers: Tesla Motors Inc. (NASDAQ: TSLA) is down 14.5% at $151.16 after running head-on into reality. Chesapeake Energy Corp. (NYSE: CHK) is down 6.8% at $26.23 on a softer outlook. SunEdison Inc. (NYSE: SUNE) is up 8.1% at $11.22 on good earnings. Abercrombie & Fitch Inc. (NYSE: ANF) is down 13.6% at $33.12.

Stocks on the Move: Mindspeed Technologies Inc. (NASDAQ: MSPD) is up 68.4% at $5.00 after agreeing to be acquired for $5.05 a share by M/A-COM Technology Solutions Holdings Inc. (NASDAQ: MTSI). Suntech Power Holdings Co. Ltd. (NYSE: STP) is down 16.7% at $1.25 after filing a petition for provisional liquidation in the Cayman Islands. Oxigene Inc. (NASDAQ: OXGN) is up 41% at $3.58.

In all, 168 NYSE stocks put up new 52-week highs today, while 21 stocks posted new lows.

Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)

Take the quiz below to get matched with a financial advisor today.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Take the retirement quiz right here.

Posted in Investing | Comments Off on Wednesday Closing Bell: Markets Close Mixed Again as Momentum Stocks Fade