US open: Stocks bounce back
May 23, 2013
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- Better than expected economic data
- Stocks bounce back after initial drop lower
Dow Jones Industrials: -0.43
Nasdaq Composite: -0.50%
S&P 500: -0.69%
The main US equity benchmarks are bouncing back after having started the day with very large losses, down by approximately a full percentage point on average.
That comes as market commentary seems to have steadied a tad, with some observers now saying that the US Fed chief's remarks yesterday were exaggerated by markets.
In that same vein, speaking overnight the President of the Federal Reserve bank of St.Louis, James Bullard, remarked that Bernanke said exactly the right thing and that tapering is data-dependent.
Shares of PC manufacturer Hewlett-Packard Co. are surging by 13% after the release of better-than-expected quarterly figures.
Apple, the maker of the iPad and the iPhone, is down following the publication of strong sales figures for rival Samsung's Galaxy S4 smartphone.
Better-than-expected-data
Initial US weekly unemployment claims fell by 25,000 to 340,000 last week (Consensus: 346,000).
US home prices rose by 1.3% month-on-month in March.
The Markit PMI for US manufacturing fell back slightly in May, to 51.9 from 52.1 (Consensus: 51.2).
Existing home sales rose by 2.3% to the 454,000 mark in April (Consensus: 425,000).
Large drop in crude futures
Front month West Texas crude futures are now lower by 1.806 dollars to the 100.77 dollar per barrel mark on the NYMEX.
10 year US Treasury yields are down by 4 basis points to the 2.0% mark.
S&P 500 - Risers
Hewlett-Packard Co. (HPQ) $23.86 +12.41%
Dover Corp. (DOV) $80.16 +4.91%
Dollar Tree Inc (DLTR) $50.33 +4.05%
Forest Laboratories Inc. (FRX) $38.71 +3.20%
Expeditors International Of Washington Inc. (EXPD) $39.19 +2.32%
Seagate Technology Plc (STX) $42.87 +1.66%
Dollar General Corp (DG) $54.66 +1.49%
Intuitive Surgical Inc. (ISRG) $476.68 +1.36%
Western Digital Corp. (WDC) $61.18 +1.29%
Newmont Mining Corp. (NEM) $32.35 +1.22%
S&P 500 - Fallers
Cliffs Natural Resources Inc. (CLF) $20.51 -4.16%
Sempra Energy (SRE) $78.63 -3.70%
Apache Corp. (APA) $80.81 -3.07%
HCP Inc. (HCP) $52.54 -3.03%
ProLogis (PLD) $42.21 -2.97%
Advanced Micro Devices Inc. (AMD) $3.85 -2.90%
Ventas Inc. (VTR) $78.38 -2.89%
Citigroup Inc. (C) $49.57 -2.80%
Ralph Lauren Corp (RL) $182.80 -2.80%
Genworth Financial Inc. (GNW) $10.19 -2.77%
Dow Jones I.A - Risers
Hewlett-Packard Co. (HPQ) $23.86 +12.41%
Boeing Co. (BA) $97.98 +0.05%
Intel Corp. (INTC) $24.08 +0.04%
Merck & Co. Inc. (MRK) $46.72 +0.03%
Dow Jones I.A - Fallers
Alcoa Inc. (AA) $8.53 -1.84%
Bank of America Corp. (BAC) $13.07 -1.81%
Home Depot Inc. (HD) $78.25 -1.81%
E.I. du Pont de Nemours and Co. (DD) $54.59 -1.77%
General Electric Co. (GE) $23.52 -1.41%
Coca-Cola Co. (KO) $41.68 -1.35%
Microsoft Corp. (MSFT) $34.15 -1.31%
Johnson & Johnson (JNJ) $87.32 -1.29%
Caterpillar Inc. (CAT) $86.61 -1.25%
JP Morgan Chase & Co. (JPM) $53.01 -1.16%
Nasdaq 100 - Risers
Dollar Tree Inc (DLTR) $50.33 +4.05%
Expeditors International Of Washington Inc. (EXPD) $39.19 +2.32%
Randgold Resources Ltd. Ads (GOLD) $76.20 +2.16%
Seagate Technology Plc (STX) $42.87 +1.66%
Intuitive Surgical Inc. (ISRG) $476.68 +1.36%
Western Digital Corp. (WDC) $61.18 +1.29%
Bed Bath & Beyond Inc. (BBBY) $68.62 +0.51%
Activision Blizzard Inc. (ATVI) $15.36 +0.46%
Nvidia Corp. (NVDA) $14.46 +0.42%
Expedia Inc. (EXPE) $57.88 +0.35%
Nasdaq 100 - Fallers
Regeneron Pharmaceuticals Inc. (REGN) $254.07 -3.18%
Wynn Resorts Ltd. (WYNN) $138.13 -2.48%
Gilead Sciences Inc. (GILD) $54.78 -2.07%
Mondelez International Inc. (MDLZ) $31.16 -1.94%
Yahoo! Inc. (YHOO) $26.03 -1.92%
Analog Devices Inc. (ADI) $44.79 -1.67%
Avago Technologies Ltd. (AVGO) $34.00 -1.62%
Biogen Idec Inc. (BIIB) $229.32 -1.61%
Symantec Corp. (SYMC) $23.24 -1.61%
Baidu Inc. (BIDU) $93.71 -1.50%
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