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24/7 Wall St. Closing Bell — October 30, 2012: Markets to Re-open Tomorrow (ACI, MPC, LAD, IDTI, BPL, AGN, ADM, CAR, AVP, BP, JCI, F, JDSU, STX, YNDX, BUD, MT, CNH, COCO, CMII, ETN, H, MA, PSX, CLX, WM, BP, BIDU, UBS)

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By Paul Ausick Updated Published
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U.S. stock markets were closed again today as New York City recovered from the damage brought on by Hurricane Sandy. In New York, both Nasdaq and the NYSE announced that the markets would be open tomorrow, which is good news for traders who want or need to close positions at month’s end (more coverage here). Bond trading will also resume a normal schedule tomorrow. In Asia, the Bank of Japan’s ninth easing operation lifted markets (more coverage here). European markets also traded higher today, following a not-as-bad-as-expected GDP report from Spain (more coverage here).

The U.S. dollar index fell today, now down 0.37% at 79.938. The GSCI commodity index is down less than 0.1% at 636.39, with commodities prices mixed today. WTI crude oil is up about 0.2% in electronic trading today, at $85.68 a barrel. Brent crude trades down 0.46% at $108.94 a barrel. Natural gas is down 2.8% today at about $3.70 per thousand cubic feet. Gold closed at $1,710.30 an ounce, up about 0.1% for the day.

There were several analyst upgrades and downgrades today, including Arch Coal Inc. (NYSE: ACI) cut to ‘sell’ at CRT Capital; Marathon Petroleum Corp. (NYSE: MPC) maintained as ‘outperform’ and named ‘Bull of the Day’ at Zacks; Lithia Motors Inc. (NYSE: LAD) named ‘Value Stock of the Day’ at Zacks; Integrated Device Technology Inc. (NASDAQ: IDTI) maintained as ‘buy’ and target price cut to $6.50 at Canaccord Genuity; and Buckeye Partners L.P. (NYSE: BPL) cut to ‘neutral’ and named ‘Bear of the Day’ at Zacks.

There were several earnings reports today although, of course, there was no impact on share prices: Allergan Inc. (NYSE: AGN), Archer Daniels Midland Co. (NYSE: ADM), Avis Budget Group Inc. (NYSE: CAR), Avon Products Inc. (NYSE: AVP), Johnson Controls Inc. (NYSE: JCI), Ford Motor Co. (NYSE: F) (more coverage here), JDS Uniphase Corp. (NASDAQ: JDSU), Seagate Technology plc (NASDAQ: STX), and Yandex NV (NASDAQ: YNDX).

Before markets open tomorrow we are scheduled to hear from Anheuser-Busch InBev SA (NYSE: BUD), ArcelorMittal (NYSE: MT), Cameron International Corp. (NYSE: CAM), CNH Global NV (NYSE: CNH), Corinthian Colleges Inc. (NASDAQ: COCO), Cummins Inc. (NYSE: CMI), Eaton Corp. (NYSE: ETN), Hyatt Hotels Corp. (NYSE: H), MasterCard Inc. (NYSE: MA), Phillips 66 (NYSE: PSX), The Clorox Co. (NYSE: CLX), and Waste Management Inc. (NYSE: WM).

Major stories from today include:

BP plc (NYSE: BP) rose more than 4% in London trading today. The oil & gas giant increased its dividend today after reporting better-than-expected results. More coverage here.

Baidu Inc. (NASDAQ: BIDU) reported earnings that beat expectations, but revenues fell a bit short. More coverage here.

UBS AG (NYSE: UBS) officially announced a layoff of 10,000 workers today, primarily in its fixed income business. More coverage here.

Stay tuned for Wednesday. San Francisco Fed President John Williams is scheduled to give a speech in New York tomorrow. We have noted the following event on the schedule (all times Eastern):

  • 7:00 a.m. – Mortgage Bankers Association purchase applications
  • 8:30 a.m. – Employment cost index
  • 9:45 a.m. – Chicago PMI
  • 3:00 p.m. – Farm prices

Paul Ausick

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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Paul Ausick |

24/7 Wall St. Closing Bell — October 29, 2012: Markets Closed as Hurricane Sandy Aims at New York (WIT, OFC, LOCK, JAKK, URI, PBR, BKW, HRS, L, LUFK, EDU, PCG, SNH, APC, FMC, AGN, ADM, CAR, AVP, BP, JCI, JDSU, STX, YNDX, RVBD, OPNT, EBAY, CLH)

U.S. stock markets were closed today as New York City and the entire East Coast of the country from the…

Paul Ausick |

24/7 Wall St. Closing Bell — June 28, 2012: Obamacare Ruling Big News, But Hard to Figure Impact This Quickly

The three major US stock indexes opened lower this morning and stayed in losing territory all day as investors first…

Paul Ausick |

24/7 Wall St. Closing Bell — September 18, 2012: Markets Mixed as Oil Price Drops (FDX, INTC, AA, NWSA, SLB, MDRX, AZO, CBRL, GIS, ADBE, AMD, DECK, CLWR, TWC, SHF)

The three major U.S. stock indexes opened lower this morning and have wavered around the break-even line all day. European…

Paul Ausick |

24/7 Wall St. Closing Bell (CHK, LVLT, QCOM, CRM, DSX, COCO, APA, WNR, YRCW, SHOO, SRE, SLE, RGLD, OWW, GM, MGM, AES, LNG, DUK, EL, PGR, WPO, GMCR, KNSY, HLF)

The major US stock indexes opened mostly flat this morning following a softer-than-expected report from the Institute for Supply Management…

Paul Ausick |

24/7 Wall St. Closing Bell (F, WYNN, COF, BP, SYNC, CHTR, HL, OMX, THC, WEN, RST, PDC, AOL, CTL, AGU, DTG, M, MPEL, NWS, CSCO, TSLA, TM, PCLN, FOSL, DNDN, AVL)

The major US stock indexes opened sharply lower this morning as weak performance in the European markets as traders try…

Paul Ausick |

24/7 Wall St. Closing Bell — October 31, 2012: Markets Open Higher Only to Flatten Out (RVBD, S, UBS, D, VLO, BUD, MT, CAM, CNH, COCO, CMI, ETN, H, MA, PSX, CLX, WM, ALL, CZR, HTZ, MUR, APA, CVC, EXC, XOM, HCA, RGLD, F, WRC, PVH, WU)

U.S. equity markets re-opened for business in New York this morning after a two-day shutdown forced by Hurricane Sandy. Markets…

Paul Ausick |

24/7 Wall St. Closing Bell — May 24, 2012 (HPQ, ARMH, DUK, NOV, MET, FRED, HNZ, TIF, COST, TD, CRMT, MENT, POST, FRO, JDAS, NTAP, ROSG, P)

The three major US stock indexes opened lower this morning following a weak report on Chinese and German PMI readings…

Paul Ausick |

24/7 Wall St. Closing Bell — March 14, 2013: Markets Climb to New Highs Today (AMZN, EBAY, WFC, VMW, ETFC, BFAM, MW, VRA, LODE, SOL, AEO, MCP, ZUMZ, BWS, MGM, SD)

U.S. equity markets opened higher this morning following a better-than-expected report on new jobless benefits claims in the U.S. and…

Paul Ausick |

24/7 Wall St. Closing Bell — February 21, 2013: Markets Turn South Early (GOOG, NKE, BHP, GRPN, UNH,CROX, ETP, PAAS, TSLA, WLT, AUY, CG, CHK, CDE, ESV, SWY, WMT, AGU, AIG, FTR, HPQ, MRVL, NEM, JWN, ANF, EGO, PAY, PRKR, QCOM, RPRX)

U.S. equity markets opened lower this morning and continued a slow downward slide throughout the day. In Europe, flash PMI…

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