October 29, 2013: U.S. markets opened higher Tuesday morning following the report on PPI which showed inflation remaining very low and indicating that the FOMC meeting which began today will conclude with asset purchases remaining at the current $85 billion a month level and no increase in interest rates. Home prices rose again in August while consumer confidence dipped sharply in October. The DJIA pegged an all-time closing high today.
European markets closed mostly higher today, while Asian and Latin American markets closed mixed.
Wednesday’s calendar includes the following scheduled data releases and events (all times Eastern):
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- 7:00 a.m. - Mortgage Bankers Association purchase applications
- 8:15 a.m. - ADP employment report
- 8:30 a.m. - Consumer price index
- 10:30 a.m. - EIA weekly petroleum status report
- 1:00 p.m. - 7-year note auction
- 2:00 p.m. - FOMC meeting announcement
Here are the closing bell levels for Tuesday:
- S&P500 1771.95 (+9.84; +0.56%)
- DJIA 15680.35 (+111.42; +0.72)
- NASDAQ 3952.34 (+12.21; +0.31%)
- 10YR TNOTE 2.505% (+0.1875)
- Gold $1,345.50 (-6.70; -0.5%)
- WTI Crude oil $98.20 (-0.48; -0.5%)
- Euro/Dollar: 1.3741 (-0.0044; -0.32%)
Big Earnings Movers: Apple Inc. (AAPL) is down 2.4% at $517.02 after reporting solid earnings that just weren’t good enough for investors. Pfizer Inc. (PFE) is up 1.7% at $31.27 on positive earnings. 3D Systems Corp. (DDD) is up 4.3% at $59.45 after investors decided that lower EPS guidance was not a bad thing. Valero Energy Corp. (VLO) is up 1.9% at $40.21 after beating low expectations and offering some encouraging words on margins. Nokia Corp. (NOK) is up 10.4% at $7.45 on better-than-expected earnings.
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Stocks on the Move: NQ Mobile Inc. (NQ) is up 26% at $11.09 as the company fights back against a short-seller report. Celsion Corp. (CLSN) is up 339.3% at $5.14 following a reverse 1:4.5 stock split. Micron Technology Inc. (MU) is up 4.7% at $17.50.
In all, 219 NYSE stocks put up new 52-week highs today, while just 7 stocks posted new lows.