The US dollar index rose slightly today, now up 0.05% at 82.478. The GSCI commodity index fell -0.04% to 653.61, with most commodities prices down today. WTI crude oil finished up 0.8% today, closing at $93.43/barrel. Brent crude trades up 0.25% at $113.88/barrel. Natural gas is up 4% today to $2.838/thousand cubic feet. Gold settled at $1,604.50/ounce, down -0.5%.
The unofficial closing bells put the DJIA up nearly 3 points to 13,172.14 (0.02%), the NASDAQ fell nearly 6 points (0.18%) to 3,016.98, and the S&P 500 fell -0.01% or less than 1 point to 1,403.92.
There were several analyst upgrades and downgrades today, including Groupon Inc. (NASDAQ: GRPN) cut to ‘neutral’ at Citigroup; The Wendy’s Co. (NASDAQ: WEN) cut to ‘underweight’ at KeyBanc Capital Markets; Molycorp Inc. (NYSE: MCP) started as ‘overweight’ at Morgan Stanley; Expedia Inc. (NASDAQ: EXPE) cut to ‘hold’ at Stifel Nicolaus; and Vale S.A. (NYSE: VALE) cut to ‘neutral’ at BofA/ML.
Earnings reports since markets closed last last night have led to some price changes as of the last half hour of trading today: Iamgold Corp. (NYSE: IAG) is up 1.6% at $11.41; Dick’s Sporting Goods Inc. (NYSE: DKS) is down -3.6% at $48.74; Home Depot Inc. (NYSE: HD) is up 3.5% at $54.65 after posting a new 52-week high of $54.98 earlier today (more coverage here); Kior Inc. (NASDAQ: KIOR) is down -13.9% at $6.87; Saks Inc. (NYSE: SKS) is up 6.4% at $11.54 (more coverage here); Esteé Lauder Companies Inc. (NYSE: EL) is up 9.9% at $60.44; and TJX Companies Inc. (NYSE: TJX) is up 1.6% at $44.95 (more coverage here).
Earnings releases are slowing down, but reports scheduled before tomorrow’s open include JDS Uniphase Corp. (NASDAQ: JDSU), Pacific Ethanol Inc. (NASDAQ: PEIX), Pan American Silver Corp. (NASDAQ: PAAS), Abercrombie & Fitch Co. (NYSE: ANF), Agilent Technologies Inc. (NYSE: A), Canadian Solar Inc. (NASDAQ: CSIQ), Deere & Co. (NYSE: DE), Staples Inc. (NASDAQ: SPLS), and Target Corp. (NYSE: TGT).
Some standouts from today include the following stocks:
Groupon Inc. (NASDAQ: GRPN) is down -26.6% at $5.54 after posting a new 52-week low of $5.46 earlier today. The Internet coupon company reported lower-than-expected revenues last night and short sellers are very likely unloading shares today. More coverage here.
Ascent Solar Technologies Inc. (NASDAQ: ASTI) is up 8.7% at $1.75 after posting a new 52-week high of $2.31 earlier today. The solar cell and module maker announced a solar recharging case for the Samsung Galaxy S3 phone yesterday and shares had gained more than 50% in two days before giving some of the gain back. More coverage here.
Michael Kors Holdings Ltd. (NYSE: KORS) is up 16.3% at $49.25. The clothing maker busted results expectations this morning. More coverage here.
Stay tuned for Tuesday. Minneapolis Fed president Naryana Kocherlakota is giving a speech. We have noted the following events on the schedule (all times Eastern):
- 7:00 a.m. – Mortgage Bankers Association purchase applications
- 8:30 a.m. – Consumer price index
- 8:30 a.m. – Empire State manufacturing survey
- 9:00 a.m. – Treasury International Capital (TIC) data
- 9:15 a.m. – Industrial production
- 10:00 a.m. – Housing Market Index
- 10:30 a.m. – EIA weekly petroleum status report
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Paul Ausick
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