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Stocks Down Across The Board Ahead Of FOMC

By  +Follow July 29, 2013 4:14PM
Tickers Mentioned:

Stocks ended the day lower on Monday to kick off a week that promises a wealth of economic data ahead of the Labor Department’s jobs report on Friday.

The Standard & Poor’s 500 ended the day 0.37 percent lower at 1,685.33 points, while the Dow Jones Industrial Average shed 0.24 percent to close at 15,521.97 points, and the NASDAQ saw a loss of 0.39 percent to finish off at 3,599.14 points.

The pending home sales report was released, indicating that contracts to purchase previously owned homes in the US retreated from a six-year high during the month of June. The National Association of Realtors saw its pending home sales index drop 0.4 percent to 110.9, while May’s index was revised downward from 112.3 to 111.3. The results for June came against expectations of a 1 percent drop, yet another display of the modestly improving strength of the housing market.

Meanwhile, the Federal Reserve Bank of Dallas’s manufacturing survey was released, showing that manufacturing activity in the state fell from 17.1 to 11.4 for the month of June. The general business activity index meanwhile was down from 6.5 to 4.4, in the opposite direction of estimates of 7.3.

On top of the economic data, stocks will also have to contend with the continuing blizzard of earnings report releases that continue in earnest on Tuesday. Companies such as US Steel Corp. (X) , JetBlue Airways Corp. (JBLU) , Pfizer Inc. (PFE) , and Proctor & Gamble (PG) , will be reporting.

The big news, as usual, will come out of the Fed on Wednesday at the conclusion of the monthly two-day Federal Open Market Committee meeting, after which investors will be on the lookout for any indications about the future of stimulus policy. It has become more or less expected that the central bank will begin tapering its $85 billion in monthly asset-purchases come September.

On the S&P 500, US drug manufacturer Perrigo Co. (PRGO) fell 6.7 percent to end at $125.23 after the company announced the acquisition of Irish drug-maker Elan for $8.6 billion. Shares for Elan were up 4.2 percent to $15.56.

Online travel site Expedia (EXPE) continued its decline after last week’s disappointing earnings report, down 2.35 percent, and energy drink-maker Monster was almost 4 percent lower.

Agricultural chemical maker CF Industries Holdings Inc. (CF) led the S&P on the upside, jumping 10.5 percent to end the day at over $200 per share after Daniel Loeb’s Third Point revealed a stake in the company.

Bank of America (BAC) , Hewlett-Packard Co. (HPQ) and Chevron Corp. (CVX) weighed heavily on the Dow, while on the NASDAQ tech shares were down, with losses for Research In Motion Limited (BBRY) , Groupon Inc. (GRPN) , and Yahoo! Inc. (YHOO) .

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.

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Results for X
Fahad Khalid
30 Oct 14 22:20:39
Blog Post: Things I Learned This Week $RDC $TGI $SPR $X $PRXL $Q http://t.co/EWu6g3EYs4
30 Oct 14 21:49:04
$BTU Quotes Click Here: http://t.co/2ygpT73BpY Also See: $X $SLW $IBB $KO ~
30 Oct 14 21:33:41
$x@MhU@ntH4h Xs!r1
30 Oct 14 21:05:05
@infmom your brother is not just a friend though. new rule: 3 months free thereafter rent is $X/month.
30 Oct 14 20:46:50
$BABA Current Price Click Here: http://t.co/vLUHDc9zn1 Also See: $ELRA $JDST $KO $X ~
30 Oct 14 20:44:40
$BABA Dividend Click Here: http://t.co/bEbBjAVBYX Also See: $X $DUST $YDLE $BDCL ~
Ken Smooth Sinatra
30 Oct 14 20:38:34
Saturday afternoon/evening it's going diiiiiinnneeee maaannggg...I got my lean on standby bc that $x$™vol 1 droppin by dat boi @settle4LES
Langan Stocks
30 Oct 14 19:46:56
$ANV Ex-Div Date Click Here: http://t.co/4OVk38EXHj Also See: $GDXJ $FFIV $X $YDLE ~
Ken Smooth Sinatra
30 Oct 14 19:32:28
$x$™vol 1 Saturday @settle4LES #Americangreed next Saturday @CornerBoyP #JLR it don't stop...every weekend choking tf outta niggas
30 Oct 14 18:55:48
$AMED Day Low Click Here: http://t.co/Z94r5TlAxe Also See: $HAL $NUGT $VXX $X ~
30 Oct 14 18:52:02
$AMBA Investor Opinions Click Here: http://t.co/AFzZP849ko Also See: $FLY.V $UVXY $X $MHYS ~
30 Oct 14 18:51:16
"@Jinpachi: $X Low volume day, profit taking after ER & ended QE, Stronger US Dollar - might be some of the reasons for today's drop." $spy
Stock Relay
30 Oct 14 18:20:01
$AMGN Financials Click Here: http://t.co/2Cv9anolix Also See: $X $SPLK $IGN $MS ~
30 Oct 14 17:47:28
$ABBV Ideas Click Here: http://t.co/RYYHLNBY6D Also See: $TUBE $X $VOIS $PEIX ~
Ken Smooth Sinatra
30 Oct 14 17:46:31
$x$™vol 1 tho
30 Oct 14 17:17:50
$AA % Change Click Here: http://t.co/WErcm9Tpb3 Also See: $FCEL $LNG $X $BBH ~
30 Oct 14 17:17:10
$AA Short Sales Click Here: http://t.co/eS3GA491lO Also See: $SRPT $X $TUBE $MOBL ~
30 Oct 14 17:15:09
RT @_Staacks: Waiting on @settle4LES 's $x$ vol. 1 and @CurrenSy_Spitta 's Pilot Talk 3 🔥🔥🔥
30 Oct 14 17:12:40
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/dvxYQnSJab $GRPR $SOFN $X
The Young Gifted
30 Oct 14 17:10:26
RT @_Staacks: Waiting on @settle4LES 's $x$ vol. 1 and @CurrenSy_Spitta 's Pilot Talk 3 🔥🔥🔥
30 Oct 14 17:10:19
RT @_Staacks: Waiting on @settle4LES 's $x$ vol. 1 and @CurrenSy_Spitta 's Pilot Talk 3 🔥🔥🔥
420 king  ✈
30 Oct 14 17:08:19
RT @_Staacks: Waiting on @settle4LES 's $x$ vol. 1 and @CurrenSy_Spitta 's Pilot Talk 3 🔥🔥🔥
30 Oct 14 17:06:06
RT @_Staacks: Waiting on @settle4LES 's $x$ vol. 1 and @CurrenSy_Spitta 's Pilot Talk 3 🔥🔥🔥
30 Oct 14 17:05:48
RT @_Staacks: Waiting on @settle4LES 's $x$ vol. 1 and @CurrenSy_Spitta 's Pilot Talk 3 🔥🔥🔥
30 Oct 14 17:04:04
Waiting on @settle4LES 's $x$ vol. 1 and @CurrenSy_Spitta 's Pilot Talk 3 🔥🔥🔥
Julio Biason
30 Oct 14 17:01:01
@dsturnbull @ebassi $X? What's $X? Wait a second, ARE YOU PHP DEV NOW, DAVE?
David Turnbull
30 Oct 14 17:00:18
@juliobiason @ebassi on the topic of the label, i'm also sick of people proudly stating that they don't know $X.
Paper Cha$er✈️
30 Oct 14 16:25:50
tht $x$ volume 1 gonna be some dope shit @settle4LES #jlr
Colin Macleod
30 Oct 14 16:25:36
Day Trading Chart Setups for October 31st http://t.co/mCMTDQbkRF $CRUS $RADA $LOCO $TASR $X $INVN $GLW
Stock Relay
30 Oct 14 16:25:01
$AA Financials Click Here: http://t.co/vJRfpEBAvg Also See: $CTIX $GLW $FL $X ~
30 Oct 14 15:46:45
RT @Greatstockpix: Video of some chart setups I'll be watching tomorrow: $CRUS $RADA $LOCO $TASR $X $INVN $GLW http://t.co/8gj2DGsKX8
Great Stockpix
30 Oct 14 15:40:13
Video of some chart setups I'll be watching tomorrow: $CRUS $RADA $LOCO $TASR $X $INVN $GLW http://t.co/8gj2DGsKX8
Dr. Duru
30 Oct 14 14:41:41
Commented on StockTwits: sorry. I was talking about $SPY for 50DMA support. I actually don't think $X will hold. ... http://t.co/PLgo3i6eSd
Dr. Duru
30 Oct 14 14:40:41
Commented on StockTwits: oops. Just realized we were talking $X not $SPY! I DON'T think $X will hold support. Def... http://t.co/JQVXU8EnZf
30 Oct 14 14:38:41
@russellsavage 2 way API could enable analyst actions like 'pause this campaign in 5 days' or 'set daily budget to $X on Dec 15'.
Drew CreeZ
30 Oct 14 14:15:48
RT @settle4LES: http://t.co/WrGDzzRke6 RT @FlickinAshess: Gotta get some $x$ gear forreal @settle4LES
Parrish #OSKIADÈ
30 Oct 14 14:11:57
RT @settle4LES: http://t.co/WrGDzzRke6 RT @FlickinAshess: Gotta get some $x$ gear forreal @settle4LES
30 Oct 14 14:11:35
http://t.co/WrGDzzRke6 RT @FlickinAshess: Gotta get some $x$ gear forreal @settle4LES
Parrish #OSKIADÈ
30 Oct 14 14:07:18
Gotta get some $x$ gear forreal @settle4LES
janet gale
30 Oct 14 14:03:49
$X - Current Report Filing (8-k) http://t.co/IHWJWxBUCl
Quantpost Basic Mats
30 Oct 14 14:02:47
$X News: "U.S. Steel could climb another 50%, analyst says $X …" http://t.co/GlnKqqnZhw Board view: https://t.co/7J787TxVou
30 Oct 14 14:02:44
U.S. Steel could climb another 50%, analyst says http://t.co/qwxNQTY6Dz $X
30 Oct 14 13:55:03
$KO Dividend Click Here: http://t.co/5XzYc6U3Sv Also See: $X $JNK $GS $XLP ~
Instrumental Data
30 Oct 14 13:50:43
30 Oct 14 13:18:14
$x$™ http://t.co/lLGHoNSRXO
30 Oct 14 13:11:45
$JNUG Dividend Click Here: http://t.co/LC4khe2Dyb Also See: $GLD $DUST $XOM $X ~
Ms. Jacks
30 Oct 14 13:10:34
.@MarshallOToole well, first off.. Don't blow off court dates. If fines are owed, shd try make arrangements for autopay $x weekly until PIF.
30 Oct 14 12:55:48
I guess Dennis Gartman isn't long $AA $X - more room to run.
Hit The Bid Radio
30 Oct 14 12:53:27
$X who would of thought a gamble on the pull back would be a better trade than the pop to the upside? cheap weeklies when the vol droped
30 Oct 14 12:41:35
$JDST Day Low Click Here: http://t.co/kn1uIGJMdI Also See: $CLF $NLNK $X $UCO ~
By  +Follow July 29, 2013 4:14PM



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