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Tuesday Closing Bell: Market Holds Onto Early Gains

Paul Ausick

October 24, 2013: U.S. markets opened higher Tuesday morning as investors interpreted the weak non-farm payroll report to indicate a continuation of the Fed’s asset purchase program at existing levels. That’s probably a good bet at least for the next couple of months. How good? The S&P 500 index closed at an all-time high today.

European and Latin American closed mostly higher today while Asian markets were mixed.

Wednesday’s calendar includes the following scheduled data releases and events (all times Eastern).

  • 7:00 a.m. - Mortgage Bankers Association purchase applications
  • 8:30 a.m. - Import and export prices
  • 9:00 a.m. - FHFA house price index
  • 10:30 a.m. - EIA weekly petroleum status report

Here are the closing bell levels for Tuesday:

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  • S&P500 1754.67 (+10.01; +0.57%)
  • DJIA 15467.46 (+75.26; +0.49%)
  • NASDAQ 3929.57 (+9.52; +0.24%)
  • 10YR TNOTE 2.516% (+0.78125)
  • Gold $1,342.60 (+26.80; +2%)
  • WTI Crude oil $97.80 (-1.42; -1.4%)
  • Euro/Dollar: 1.3784 (+0.0102; +0.74%)

Big Earnings Movers: Netflix Inc. (NFLX) is down 9% at $322.99 after a stellar report and some cautionary comments from the CEO. VMware Inc. (VMW) is up 2.9% at $85.01 after a very positive report. Delta Air Lines Inc. (DAL) is up 3.3% at $25.51 after a solid quarter. Freeport-McMoRan Copper & Gold Inc. (FCX) is up 3.7% at $36.35 on an earnings boost from its recent oil and gas acquisitions. RadioShack Corp. (RSH) is down 17.9% at $2.89 after a reporting dismal results.

Stocks on the Move: Alcoa Inc. (AA) is up 9.1% at $9.38 after posting a new 52-week high of $9.63 earlier today. Endeavour International Corp. (END) is down 14.3% at $6.05 after failing to get any appreciable results from its strategic review. E-commerce China Dangdang Inc. (DANG) is down 13.4% at $10.05 after issuing a warning on third-quarter earnings.

In all, 415 NYSE stocks put up new 52-week highs today, while only 4 stocks posted new lows.

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