The US dollar index fell today, now down 0.44% at 81.547. The GSCI commodity index is up 0.9% today at 675.55, with commodities prices mostly lower. WTI crude oil finished up 0.4% today, closing at $97.26/barrel. Brent crude trades up 0.05% at $114.70/barrel. Natural gas is up 1.8% today to $2.825/thousand cubic feet. Gold settled at $1,640.50/ounce, down 0.2%.
The unofficial closing bells put the DJIA down more than 31 points to 13,172.29 (-0.24%), the NASDAQ rose more than 6 points (0.21%) to 3,.73.67, and the S&P 500 rose 0.02% or less than 1 point to 1,413.51.
There were several analyst upgrades and downgrades today, including Best Buy Co. Inc. (NYSE: BBY) cut to ‘underperform’ at Wedbush; Zynga Inc. (NASDAQ: ZNGA) started as ‘neutral’ at Janney; Ceasars Entertainment Corp. (NASDAQ: CZR) started as ‘underweight’ at Barclays; Clearwire Corp. (NASDAQ: CLWR) cut to ‘underperform’ at RBC; and The Mosaic Co. (NYSE: MOS) started as ‘buy’ at Stifel Nicolaus.
Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Dell Inc. (NASDAQ: DELL) is down -5.2% at $11.70 after matching its 52-week low of $11.39 earlier today (more coverage here); Analog Devices Inc. (NASDAQ: ADI) is down 1.5% at $39.74; Intuit Inc. (NASDAQ: INTU) is up 1.3% at $59.74; Key Tronic Corp. (NASDAQ: KTCC) is up 22.5% at $9.80; American Eagle Outfitters Inc. (NYSE: AEO) is up 7% at $22.28 after posting a new 52-week high of $22.49 earlier today (more coverage here); Chico’s FAS Inc. (NYSE: CHS) is up 6.9% at $18.25 after posting a new 52-week high of $18.58 earlier today; and Toll Brothers Inc. (NYSE: TOL) is up 4.4% at $33.20 after posting a new 52-week high of $33.65 earlier today (more coverage here).
Earnings releases are slowing down, but reports scheduled before tomorrow’s open include Guess? Inc. (NYSE: GES), Hewlett-Packard Co. (NYSE: HPQ), Krispy Kreme Doughnuts Inc. (NYSE: KKD), 1-800-Flowers.com Inc. (NASDAQ: FLWS), Big Lots Inc. (NYSE: BIG), Hormel Foods Corp. (NYSE: HRL), and Jinkosolar Holding Co. Ltd. (NYSE: JKS).
Some standouts from today include the following stocks:
Sunrise Senior Living Inc. (NYSE: SRZ) is up 59.4% at $14.24 after posting a new 52-week high of $14.30 earlier today. The senior housing communities owner is being acquired by Health Care REIT Inc. in an all-cash deal valued at $1 billion. More coverage here.
Express Inc. (NASDAQ: EXPR) is down 11.2% at $15.00 after posting a new 52-week low of $14.94 earlier today. The specialty clothing and accessories retailer missed second-quarter expectations and cut its forecast again.
Wet Seal Inc. (NASDAQ: WTSLA) is down 9.5% at $2.77. The women’s specialty retailer reported inline results for the second quarter, but cut its estimates and adopted a shareholders’ rights plan.
Stay tuned for Thursday.We have noted the following events on the schedule (all times Eastern):
8:30 a.m. – New claims for unemployment benefits
9:00 a.m. – Flash PMI manufacturing index
9:45 a.m. – Bloomberg consumer comfort index
10:00 a.m. – New home sales
10:00 a.m. – FHFA house price index
10:30 a.m. – EIA natural gas storage report
1:00 p.m. – 5-year TIPS auction
4:30 p.m. – Fed balance sheet and money supply
Paul Ausick
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