The US dollar index fell today, now down -0.11% at 82.287. The GSCI commodity index rose by about 2.7% to 647.65, with commodities prices mostly lower today. WTI crude oil rose 0.9% today, closing at $92.20/barrel. Brent crude trades up 0.61% at $109.60/barrel. Natural gas is up 1.3% today to $2.914/thousand cubic feet. Gold settled at $1,616.20/ounce, up 0.4% for the day.
The unofficial closing bells put the DJIA up more than 24 points to 13,120.54 (0.19%), the NASDAQ rose about 22 points (0.74%) to 2,989.91, and the S&P 500 rose 0.24% or more than 3 points to 1,394.31.
There were several analyst upgrades and downgrades today, including Wal-Mart Stores Inc. (NYSE: WMT) raised to ‘buy’ with a target price of $83 at Stifel Nicolaus; Annaly Capital Management (NYSE: NLY) cut to ‘underperform’ at FBR; Kraft Foods Inc. (NYSE: KFT) raised to ‘buy’ at Jefferies; American Water Works Co. Inc. (NYSE: AWK) raised to ‘outperform’ at Baird; and Beazer USA Homes Inc. (NYSE: BZH) raised to ‘market perform’ at Wells Fargo.
Earnings reports since markets closed last Friday have led to some price changes as of the last half hour of trading today: Alexander’s Inc. (NYSE: ALX) is up 1.3% at $440.00; American States Water Co. (NYSE: AWR) is up 1% at $41.86 after posting a new 52-week high of $42.90 earlier today; Changyou.com Ltd. (NASDAQ: CYOU) is up 18.6% at $22.98 (more coverage here); FreightCar America Inc. (NASDAQ: RAIL) is down -9.1% at $19.07 (more coverage here); HCA Holdings Inc. (NYSE: HCA) is down 4.2% at $25.49 (more coverage here); MakeMyTrip Ltd. (NASDAQ: MMYT) is up 7.9% at $17.44; Sohu.com Inc. (NASDAQ: SOHU) is up 19.8% at $41.57; and Youku Inc. (NYSE: YOKU) is up 10.6% at $18.10 (more coverage here).
After markets close today we’re scheduled to hear from Chesapeake Energy Corp. (NYSE: CHK), Broadsoft Inc. (NASDAQ: BSFT), Ceasars Entertainment Corp. (NASDAQ: CZR), Clean Energy Fuels Corp. (NASDAQ: CLNE), Leap Wireless International Inc. (NASDAQ: LEAP), McDermott International Inc. (NYSE: MDR), and Vornado Realty Trust (NYSE: VNO).
Before markets open on Monday we are scheduled to get earnings results from Amerigas Partners L.P. (NYSE: APU), Carrizo Oil & Gas Inc. (NASDAQ: CRZO), Coeur d’Alene Mines Corp. (NYSE: CDE), MGM Resorts International (NYSE: MGM), Office Depot Inc. (NYSE: ODP), Sirius XM Radio Inc. (NASDAQ: SIRI), Sotheby’s (NYSE: BID), Tenet Healthcare Corp. (NYSE: THC), and Walt Disney Co. (NYSE: DIS).
Some standouts from today include the following stocks:
Knight Capital Group Inc. (NYSE: KCG) is down -22.4% at $3.14. The financial services firm will issue 267 million 2% convertible preferred shares. More coverage here.
Best Buy Co. Inc. (NYSE: BBY) is up 12.7% at $19.89. The consumer electronics retailer got a $9 billion buyout offer from its founder. More coverage here.
Vringo Inc. (NYSEMKT: VRNG) is up 22.6% at $3.83. The intellectual property firm settled a patent dispute with Aol Inc. (NYSE: AOL). More coverage here.
Stay tuned for Tuesday. Fed Chairman Ben Bernanke is giving a speech. We have noted the following events on the schedule (all times Eastern):
- 11:30 a.m. – 4-week bill auction
- 1:00 p.m. – 3-year note auction
- 3:00 p.m. – Consumer credit data
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Paul Ausick
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