Friday Closing Bell: Markets Retrace Yesterday’s Losses

November 8, 2013 by Paul Ausick

November 8, 2013: U.S. markets opened slightly higher Friday morning after the monthly report on non-farm payrolls showed a larger-than-expected gain. The preliminary report on November consumer sentiment came in low pushing share prices down shortly after markets opened. It appears that investors decided to buy the dip today, though, retracing much of yesterday’s loss. The dollar strengthened again today, and the 10-year Treasury yield zoomed higher.

European markets closed mixed today while Latin American and Asian markets again closed lower.

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

  • 10:00 a.m. – Factory orders
  • 11:30 a.m. – 3- and 6-month bill auctions

Here are the closing bell levels for Friday:

  • S&P500 1770.60 (+23.45; +1.34%)
  • DJIA 15761.78 (+167.80; +1.08%)
  • NASDAQ 3919.23 (+61.90; +1.60%)
  • 10YR TNOTE 2.751% (-1.21875)
  • Gold $1,284.60 (-23.90; -1.8%) and down 2.2% for the week
  • WTI Crude oil $94.60 (+0.40; +0.4%) and unchanged for the week
  • Euro/Dollar: 1.3364 (-0.0055; -0.41%)

Big Earnings Movers: The Walt Disney Co. (NYSE: DIS) is up 2.1% at $68.58 on a good showing for its films but not so much for its TV programming. Molycorp Inc. (NYSE: MCP) is up 1.8% at $4.85 after offering a weakish outlook. Revolution Lighting Technologies Inc. (NASDAQ: RVLT) is up 21.5% at $3.28 after a strong report and reaffirmed solid outlook.

Stocks on the Move: Twitter Inc. (NYSE: TWTR) is down 7.3% at $41.64 on its second day of trading and word is that some hedge funds and traders are looking to borrow shares. Santarus Inc. (NASDAQ: SNTS) is up 37.6% at $31.95 after agreeing late Thursday night to an acquisition by Salix Pharmaceuticals Inc. (NASDAQ: SLXP) for $2.6 billion in cash.

In all, 109 NYSE stocks put up new 52-week highs today, while 58 stocks posted new lows.

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