Thursday Closing Bell: Markets Ignore Politics to Close Higher

September 26, 2013 by Paul Ausick

September 26, 2013: U.S. markets opened higher Thursday following a better-than-expected report on new jobless claims and the third estimate on second-quarter U.S. GDP came in as expected. Pending home sales fell in August as low inventory and higher prices curbed some enthusiasm among buyers. Data on personal income and spending and consumer sentiment is due tomorrow morning. Government shutdown, default on federal debt? What, me worry?

Latin American markets closed lower today, while European and Asian markets closed mixed.

Friday’s calendar includes speeches by Chicago Fed President Charles Evans, Boston Fed President Eric Rosengren, and New York Fed President William Dudley and the following data releases and events (all times Eastern):

  • 8:30 a.m. – Personal income and outlays
  • 9:55 a.m. – Thomson Reuters/University of Michigan consumer sentiment index
  • 3:00 p.m. – Farm prices

Here are the closing bell levels for Thursday:

  • S&P500 1,698.66 (+5.89; +0.35%)
  • DJIA 15,328.30 (+55.04; +0.36%)
  • NASDAQ 3,787.430 (+26.33; +0.70%)
  • 10YR TNOTE 2.648% (-0.125)
  • Gold $1,324.10 (-12.10; -0.9%)
  • WTI Crude oil $103.03 (+0.37; +0.4%)
  • Euro/Dollar: 1.3482 (-0.0044; -0.32%)

Big Earnings Movers: Bed, Bath & Beyond Inc. (NASDAQ: BBBY) is up 4.5% at $77.54 after a new 52-week high of $78.88. Jabil Circuit Inc. (NYSE: JBL) is down 9.9% at $21.62.

Nike Inc. (NYSE: NKE) reports fiscal first quarter results after markets close today.

Stocks on the Move: J.C. Penney Co. Inc. (NYSE: JCP) is up 3% at $10.42 after hitting a 52-week low earlier this morning. Facebook Inc. (NASDAQ: FB) is up 1.9% at $50.38 after posting a new 52-week high of $50.60 earlier today. Hertz Global Holdings Inc. (NYSE: HTZ) is down 16% at $21.65 after issuing an earnings warning. Kior Inc. (NASDAQ: KIOR) is up 57.9% at $2.89 following a $50 million injection of cash to help double its production of cellulosic ethanol.

In all, 110 stocks put up new 52-week highs today, while 21 stocks posted new lows.

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