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Friday Closing Bell: Markets Fall Following Fed-mania

Paul Ausick

September 20, 2013: U.S. markets opened mixed Friday but very near the flat line. That was the high-point for the day for the DJIA and the S&P 500; the Nasdaq Composite actually rose to a couple of points above its open for a moment before start its slide. A slew of speeches from Fed officials didn’t add anything that was unknown about Wednesday’s FOMC announcement. Two IPOs and two secondary offerings did their best to give the markets a lift today, but it was not gonna happen.

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

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Monday’s calendar includes a speech by Atlanta Fed President Dennis Lockhart and the following data releases and events (all times Eastern):

  • 8:30 a.m. - Chicago Fed national activity index
  • 8:58 a.m. - Flash manufacturing PMI index
  • 11:30 a.m. - 3- and 6-month bill auctions

Here are the closing bell levels for Friday:

  • S&P500 1,709.68 (-12.66; -0.73%)
  • DJIA 15,459.30 (-178.86; -1.14%)
  • NASDAQ 3,774.73 (-14.66; -0.39%)
  • 10YR TNOTE 2.738% (-0.15625)
  • Gold $1,332.50 (-36.80; -2.7%), up 1.8% for the week
  • WTI Crude oil $104.67 (-1.72; -1.6%), down 3.3% for the week
  • Euro/Dollar: 1.3522 (-0.0007; -0.06%)

Shares of BlackBerry Ltd. (BBRY) were halted for about 35 minutes late Friday afternoon. The company announced absolutely awful preliminary results one week ahead of its scheduled announcement date. Shares closed at $8.70, down 17.3% for the day.

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Big Earnings Movers: Darden Restaurants Inc. (DRI) is down 7.1% at $45.78. Sierra Wireless Inc. (SWIR) is up 18.6% at $14.77.

Stocks on the Move: FireEye Inc. (FEYE) is up 78% at $35.60 after its morning IPO. Rocket Fuel Inc. (FUEL) is up 89.7% at $55.00 following its IPO. JinkoSolar Holding Co. Ltd. (JKS) is up 4.9% at $17.29 following a secondary offering. Shutterstock Inc. (SSTK) is up 16.2% at $70.11 after its own secondary offering.

In all, 154 stocks put up new 52-week highs today, while 27 stocks posted new lows.

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