The U.S. dollar index fell today, now down 0.45% at 79.525. The GSCI commodity index is down 1 % at 651.87, with commodities prices generally higher on the weaker dollar. WTI crude oil closed up 2.1% today, at $91.85 a barrel. Brent crude trades up 2% at $112.23 a barrel. Natural gas is up 2.1% today to $3.283 per thousand cubic feet following an inline report on natural gas storage (more coverage here). Gold closed at $1,780.50 an ounce, up 1.5%.
The unofficial closing bells put the DJIA up about 73 points to 13,486.51 (0.54%), the NASDAQ rose about 43 points (1.39%) to 3,136.60, and the S&P 500 rose 0.97% or nearly 14 points to 1,447.17.
There were several analyst upgrades and downgrades today, including General Motors Co. (NYSE: GM) started as ‘hold’ at Stifel Nicolaus; Immunogen Inc. (NASDAQ: IMGN) started as ‘sell’ at UBS; ArcelorMittal (NYSE: MT) cut to ‘sell’ at Goldman Sachs (related story here); Monsanto Co. (NYSE: MON) raised to ‘outperform’ at Wells Fargo; and Honeywell International Inc. (NYSE: HON) started as ‘buy’ at BofA/ML.
Earnings reports since markets closed last night resulted in some price moves today, including these as of the last hour of trading: Progress Software Corp. (NASDAQ: PRGS) is up 12% at $21.46; Worthington Industries Inc. (NYSE: WOR) is down 0.8% at $22.24; HB Fuller Co. (NYSE: FUL) is down 9.3% at $30.27; Discover Financial Services (NYSE: DFS) is up 7.2% at $39.67 after posting a new 52-week high of $39.73 earlier today (more coverage here); and McCormick & Company Inc. (NYSE: MKC) is down 1.7% at $61.85.
Before markets open tomorrow we are scheduled to hear from Research in Motion Ltd. (NASDAQ: RIMM), Nike Inc. (NYSE: NKE), Accenture plc (NYSE: ACN), American Greetings Corp. (NYSE: AM), Finish Line Inc. (NASDAQ: FINL), and Walgreen Co. (NYSE: WAG).
Some standouts from today include the following stocks:
Tempur-Pedic International Inc. (NYSE: TPX) is up 15.3% at $30.88. The mattress maker acquired competitor Sealy Corp. (NYSE: ZZ) today. More coverage here.
Peregrine Pharmaceuticals Inc. (NASDAQ: PPHM) is down 30.7% at $1.15. The drugmaker reported that it paid off a defaulted $15 million loan.
First Solar Inc. (NASDAQ: FSLR) is up 12.5% at $23.50. The solar panel maker won a contract to build four solar farms in Mexico and is under consideration for a 1,000-megawatt solar plant in southern California.
Stay tuned for Friday. Dallas Fed President Richard Fisher is giving a speech. We have noted the following events on the schedule (all times Eastern):
- 8:30 a.m. – Personal income and outlays
- 9:45 a.m. – Chicago PMI
- 9:55 a.m. – University of Michigan/Thomson Reuters consumer sentiment index
Paul Ausick
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