YAHOO [BRIEFING.COM]: The advances made by U.S. equities during the
first 30 minutes held through most of the day as thin volume and lack of
economic data contributed to a lackluster trading day. As the session entered
its final minutes, stocks came off highs and finished near the bottom of the
day's range. The S&P 500 ended higher by 0.2%.
Asian markets closed considerably higher following Friday's positive
In Europe,
The Nasdaq outperformed
other indices and ended higher by 0.7%. The above-average gains were driven by
multiple companies posting double digit percent gains.
Pluristem Therapeutics (PSTI 3.80, +0.49) was 14.8% higher after
reporting that the company's treatment has been able to save the life of a
patient exhibiting bone marrow failure.
Online gaming developer Changyou.com
(CYOU 23.00, +3.63) gained 18.7% after beating its earnings and revenue
forecast.
Knight Capital Group
(KCG 3.07, -0.98) has bounced off lows but ended the session down 24.2% after
this morning's news indicated the company had raised $400 million through the
sale of preferred, convertible stock.
With gains of 1.1%, the Materials sector was the best performer today. United States Steel (X 22.94, +1.22) was the best performer
within the group and ended higher by 5.6%. In addition, Newmont Mining (NEM 46.12, +1.45) and Freeport-McMoRan (FCX 34.34, +0.84) were up 3.3% and 2.5%
respectively.
Down 0.3%, utilities were the biggest laggard in the S&P 500. Within the
space, Exelon (EXC 38.06, -0.41) shed 1.1%
while Duke Energy (DUK 68.21, -0.39) was off by 0.6%.
The dollar index ended off by 0.1% as the performance of major currencies
against the greenback has been mixed. At 78.22, the Japanese Yen was up 0.3%
against the dollar. The euro has come off session highs at 1.2425 and it
currently trades near 1.2395. The common currency advanced 0.1% against the
U.S. dollar.
The 10-yr yield on
Nearly 70 companies are scheduled to release their quarterly results after
today's closing bell. Some notable names include Caribou Coffee (CBOU 10.95, -0.50), Chesapeake Energy (CHK 17.68, -0.21), Plantronics
(PLT 33.47, +0.27), and Leap Wireless
(LEAP 5.52, +0.30).
Crude oil popped into positive territory following rumors
suggesting that
Natural gas slid to a pit session low of $2.82 per MMBtu
in morning action but found buying support soon after. It trended in an upward
pattern for the remainder of its floor session and settled 1.0% higher at $2.91
per MMBtu. Precious metals extended Friday's gains as
the weaker dollar gave them a boost.
Gold came off its pit session low of $1608.30 per ounce and traded up to a
session high of $1618.40 per ounce by late morning. It pulled-back slightly in
afternoon action but still managed to close 0.4% higher at $1616.00 per ounce.
Silver touched a session low of $27.61 per ounce moments after pit trade opened
but climbed out of negative territory in late morning action. It brushed a
session high of $27.95 per ounce and settled just below that level at $27.87
per ounce with a gain of 0.3%.
In addition, almost 80 firms will report before tomorrow's open. Cablevision (CVC 15.83, +0.29), CVS Caremark (CVS 44.90, +0.15), Fossil (FOSL 69.79, +1.36), MGM Resorts (MGM 9.38, +0.12), and Office Depot (ODP 1.74, -0.04) are some stocks which
bear watching. Tomorrow's economic data is limited to consumer credit, due out
at 3 PM ET.DJ30 +21.34 NASDAQ +22.01 SP500 +3.24 NASDAQ Adv/Vol/Dec
1522/1.49 bln/927 NYSE Adv/Vol/Dec 1892/647.2
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