The US dollar index tumbled today, now down -1.18% at 82.375. The GSCI commodity index fell by about -1.1% to 630.33, with commodities prices higher today on the weaker dollar. WTI crude oil rose a whopping 4.9% today, closing at $91.40/barrel. Brent crude trades up 2.83% at $108.90/barrel. Natural gas is down -0.68% today to $2.90/thousand cubic feet. Gold settled at $1,609.30/ounce, up 1.2% for the day.
The unofficial closing bells put the DJIA up more than 217 points to 13,096.09 (1.69%), the NASDAQ rose about 58 points (2%) to 2,967.90, and the S&P 500 rose 1.9% or about 26 points to 1,390.99.
There were several analyst upgrades and downgrades today, including Nokia Corp. (NYSE: NOK) cut to ‘sell’ at Goldman Sachs; Nordstrom Inc. (NYSE: JWN) cut to ‘neutral’ at Baird; Whole Foods Market Inc. (NASDAQ: WFM) raised to ‘overweight’ at Morgan Stanley; MGIC Investment Corp. (NYSE: MTG) cut to ‘market perform’ at FBR; and Sunoco Logistics Partners L.P. (NYSE: SXL) raised to ‘buy’ at BofA/ML.
Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Activision Blizzard Inc. (NASDAQ: ATVI) is down -4.9% at $11.19; American Water Works Co. Inc. (NYSE: AWK) is up 3.4% at $37.49 after posting a new 52-week high of $39.38 earlier today; Body Central Corp. (NASDAQ: BODY) is down -15.9% at $8.07 after posting a new 52-week low of $7.71 earlier today; CBS Corp. (NYSE: CBS) is up 5.8% at $34.97 after posting a new 52-week high of $35.17 earlier today; Kodiak Oil & Gas Corp. (NYSE: KOG) is up 7.1% at $8.10 after posting a new 52-week high of $8.35 earlier today; Westport Innovations Inc. (NASDAQ: WPRT) is up 12.8% at $39.00; Agrium Inc. (NYSE: AGU) is up 0.9% at $95.04 (more coverage here); Beazer USA Homes Inc. (NYSE: BZH) is down -2.6% at $2.25 (more coverage here); NYSE Euronext (NYSE: NYX) is up 1.3% at $24.89; Viacom Inc. (NASDAQ: VIAB) is up 3.2% at $47.30 (more coverage here); and Wellcare Health Plans Inc. (NYSE: WCG) is down -11.5% at $55.21.
Before markets open on Monday we are scheduled to get earnings results from Alexander’s Inc. (NYSE: ALX), American States Water Co. (NYSE: AWR), Changyou.com Ltd. (NASDAQ: CYOU), FreightCar America Inc. (NASDAQ: RAIL), HCA Holdings Inc. (NYSE: HCA), MakeMyTrip Ltd. (NASDAQ: MMYT), Sohu.com Inc. (NASDAQ: SOHU), and Youku Inc. (NYSE: YOKU) among others.
Some standouts from today include the following stocks:
Knight Capital Group Inc. (NYSE: KCG) is up 56.9% at $4.05. The financial services firm caught a couple of badly needed breaks today. More coverage here and here.
Molycorp Inc. (NYSE: MCP) is down -28% at $11.57 after posting a new 52-week low of $11.31 earlier today. The rare earths miner posted disappointing results last night, and offered a weak-sounding outlook. More coverage here.
Zipcar Inc. (NASDAQ: ZIP) is down -34.9% at $6.93 after posting a new 52-week low of $6.50 earlier today. The car rental firm posted weaker-than-expected earnings and revenues. More coverage here.
Stay tuned for Monday. Fed Chairman Ben Bernanke is giving a speech. We have noted the following events on the schedule (all times Eastern):
- 11:30 a.m. – 3- and 6-month bill auctions
- 3:00 p.m. – Treasury STRIPS
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Have a great weekend!
Paul Ausick
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