The US dollar index fell today, now down -0.23% at 82.881. The GSCI commodity index rose about 1.1% to 639.75, with commodities prices virtually all higher today on the weaker dollar. Corn and soybeans hit new highs today, but gave most of the gains back falling reports of a possible slowdown in exports. WTI crude oil rose 3.1% today, closing at $92.66/barrel. Brent crude trades up 2.54% at $107.83/barrel. Natural gas is up 1.45% today to $3.016/thousand cubic feet following an inline report on inventories (more coverage here). Gold settled at $1,580.40/ounce, up 0.6%.
The unofficial closing bells put the DJIA up nearly 35 points to 12,943.36 (0.27%), the NASDAQ rose more than 23 points (0.79%) to 2,965.90, and the S&P 500 rose 0.27% or nearly 4 points to 1,376.51.
There were several analyst upgrades and downgrades today, including Alpha Natural Resources Inc. (NYSE: ANR) cut to ‘hold’ at Brean Murray Carret; News Corp. (NASDAQ: NWSA) raised to ‘buy’ at Citigroup; Sirius XM Radio Inc. (NASDAQ: SIRI) raised to ‘outperform’ as Bull of the Day at Zack’s; U.S. Bancorp (NYSE: USB) cut to ‘perform’ at Oppenheimer; and Ericsson (NASDAQ: ERIC) raised to ‘hold’ at SocGen.
Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: American Express Co. (NYSE: AXP) is down -3.5% at $56.28; Capital One Financial Corp. (NYSE: COF) is up 2.9% at $56.49 after posting a new 52-week high of $58.69 earlier today; eBay Inc. (NASDAQ: EBAY) is up 8.6% at $43.95 after posting a new 52-week high today of $44.44; International Business Machines Inc. (NYSE: IBM) is up 4% at $195.69; Yum! Brands Inc. (NYSE: YUM) is up 0.4% at $65.81; AutoNation Inc. (NYSE: AN) is down -3.5% at $40.97 (more coverage here); Diamond Offshore Drilling Inc. (NYSE: DO) is up 3.4% at $66.01; Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) is up 4.5% at $34.51; Morgan Stanley (NYSE: MS) is down -5.5% at $13.22; and Verizon Communications Inc. (NYSE: VZ) is down -2.9% at $44.54 (more coverage here).
After markets close today we are set to hear from Chipotle Mexican Grill Inc. (NYSE: CMG), Dole Food Co. (NYSE: DOLE), Google Inc. (NASDAQ: GOOG), Rambus Inc. (NASDAQ: RMBS), SanDisk Corp. (NASDAQ: SNDK), and Microsoft Corp. (NASDAQ: MSFT).
Before markets open on Friday we are scheduled to get earnings results from American Electric Power Co. Inc. (NYSE: AEP), Baker Hughes Inc. (NYSE: BHI), General Electric Co. (NYSE: GE), Manpower Inc. (NYSE: MAN), and Xerox Corp. (NYSE: XRX).
Some standouts from today include the following stocks:
Five Below Inc. (NASDAQ: FIVE) is up 58.9% at $27.01. The discount retailer of teen clothing held its IPO today, posting a high of $29.43 on an offering price of $17.00. More coverage here.
OCZ Technology Group Inc. (NASDAQ: OCZ) is up 24.5% at $5.68. The solid-state data storage company is rumored to be an acquisition target, including by Seagate Technology PLC (NASDAQ: STX).
Ignite Restaurant Group Inc. (NASDAQ: IRG) is down -20.4% at $15.18 after posting a new low of $14.00 earlier today. The restaurateur will restate earnings for past three fiscal years and the first quarter of 2012 after an accounting review.
Walgreen Co. (NYSE: WAG) is up 11.9% at $34.65. The drugstore chain has agreed to a new deal with Express Scripts Holdings Co. (NASDAQ: ESRX), the largest pharmacy benefits management company in the US. More coverage here.
There are no events or speeches currently scheduled for tomorrow.
Paul Ausick
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