The US dollar index rose today, now up 0.38% at 84.024. The GSCI commodity index fell about -2.8% to 633.47, with commodities prices mostly lower today on the stronger dollar. Corn fell to around $7.725/bushel today. WTI crude oil rose 0.4% today, closing at $88.50/barrel. Brent crude trades up 0.38% at $103.65/barrel. Natural gas is up 2% today to $3.179/thousand cubic feet. Gold settled at $1,576.20/ounce, down -0.1% (more coverage here).
The unofficial closing bells put the DJIA down more than 104 points to 12,617.32 (-0.82%), the NASDAQ fell more than 27 points (-0.94%) to 2,862.99, and the S&P 500 fell -0.90% or more than 12 points to 1,338.32.
There were several analyst upgrades and downgrades today, including RadioShack Corp. (NYSE: RSH) cut to ‘sell’ at UBS; Wisconsin Energy Corp. (NYSE: WEC) cut to ‘sell’ at Goldman Sachs; American International Group Inc. (NYSE: AIG) started as ‘overweight’ at Evercore; MetroPCS Communications Inc. (NYSE: PCS) raised to ‘outperform’ at Macquarie; and Chipotle Mexican Grill Inc. (NYSE: CMG) cut to ‘hold’ at Argus.
Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Steel Dynamics Inc. (NASDAQ: STLD) is down -2.5% at $11.92; Baidu Inc. (NASDAQ: BIDU) is up 7.6% at $115.26 (more coverage here); Celanese Corp. (NYSE: CE) is up 5.7% at $37.54; VMWare Inc. (NYSE: VMW) is down -0.9% at $88.44; AK Steel Holding Corp. (NYSE: AKS) is down -1.4% at $4.93; Altria Group Inc. (NYSE: MO) is up 0.2% at $35.56 (more coverage here); AT&T Inc. (NYSE: T) is down -2.5% at $34.51 (more coverage here); Boyd Gaming Corp. (NYSE: BYD) is down -17% at $5.53; E. I. du Pont de Nemours and Co. (NYSE: DD) is down -2% at $47.74 (more coverage here); Lockheed Martin Corp. (NYSE: LMT) is up 1% at $87.80; Peabody Energy Corp. (NYSE: BTU) is down -11.1% at $20.59 after posting a new 52-week low of $20.29 earlier today (more coverage here); and United Parcel Service Inc. (NYSE: UPS) is down -5% at $74.02 (more coverage here).
After markets close today we are set to hear from Netflix Inc. (NASDAQ: NFLX), Cabot Oil & Gas Corp. (NYSE: COG), Edwards Lifesciences Corp. (NYSE: EW), EMC Corp. (NYSE: EMC), Juniper Networks Inc. (NYSE: JNPR), and Norfolk Southern Corp. (NYSE: NSC) among many others.
Before markets open tomorrow we are scheduled to get earnings results from AOL Inc. (NYSE: AOL), ARM Holdings PLC (NASDAQ: ARMH), Caterpillar Inc. (NYSE: CAT), ConocoPhillips (NYSE: COP), Eli Lilly & Co. (NYSE: LLY), General Dynamics Corp. (NYSE: GD), Ford Motor Co. (NYSE: F), JetBlue Airways Corp. (NASDAQ: JBLU), Pepsico Inc. (NYSE: PEP), and Wellpoint Inc. (NYSE: WLP).
Some standouts from today include the following stocks:
Sarepta Therapeutics Inc. (NASDAQ: SRPT) is up 153% at $8.75. The drugmaker announced strong positive results for a muscular dystrophy treatment.
Chuy Holdings Inc. (NASDAQ: CHUY) is up 17.5% at $15.28. The restaurant chain held its IPO today at an offering price of $13/share.
DeVry Inc. (NYSE: DV) is down -24.8% at $20.72 after posting a new 52-week low of $19.30 earlier today. The for-profit education company reported awful quarterly results today, with more to come. More coverage here.
Elan Corp. (NYSE: ELN) is down -14.7% at $11.53. The drugmaker’s jointly developed Alzheimer’s drug failed a late stage trial. More coverage here.
Stay tuned for Wednesday. We have noted the following events on the schedule (all times Eastern):
- 7:00 a.m. – Mortgage Bankers Association mortgage purchase applications
- 10:00 a.m. – New home sales
- 10:30 a.m. – EIA weekly petroleum status report
- 1:00 p.m. – 5-year note auction
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Paul Ausick
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