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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. To read our full disclosure, please go to: http://www.equities.com/disclaimer

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Results for X
1 Dec 15 10:09:11
$X: Notable Session Mover: United States Steel Corporation (NYSE:X): https://t.co/RvndYkr0pp
Options Answers
1 Dec 15 09:58:52
RT @PolgarStocks: FOLD Amicus Therapeutics, Inc. Short Sales https://t.co/AgDMosxJKd $FOLD $ETN $XLE $X #FOLD #stockmarket #finance
Lucky Jimmy
1 Dec 15 09:51:34
XLE Energy Select Sector SPDR Day High https://t.co/Y34CO1j1Wf $XLE $NG $FEYE $X #XLE #tradeideas #investing
1 Dec 15 09:45:34
PAYC Paycom Software, Inc. Ask https://t.co/ppyJwGGJHe $PAYC $PANW $AEM $X #PAYC #finance #finance
1 Dec 15 09:42:18
JCP JC Penney Co, Inc. Shares https://t.co/RiglTN2ejR $JCP $NVDA $X $IWM #JCP #investing #stock
1 Dec 15 09:42:05
IWC iShares Russell Microcap Index Fund Tick https://t.co/LNlWPuw63n $IWC $JNK $X $HAL #IWC #tradeideas #tradeideas
1 Dec 15 09:41:05
INTC Intel Corp. News https://t.co/kj9YQkjnW4 $INTC $X $HAL $TRV #INTC #investing #pennystocks
1 Dec 15 09:26:07
RT @SwingWarrior: Momentum Day Trading Strategy For Beginners: https://t.co/cbuuJohSSV | #Stocks #Trading $SPY $QQQ $VXX $USO $DIA $X https…
Trading Derivatives
1 Dec 15 09:21:18
RT @SwingWarrior: Momentum Day Trading Strategy For Beginners: https://t.co/cbuuJohSSV | #Stocks #Trading $SPY $QQQ $VXX $USO $DIA $X https…
ursa minor
1 Dec 15 09:19:04
And this is just to change a deduction amount from $X/week to $Y/week! I can't imagine the shit people with real issues have to deal with
Sebastian Rojas
1 Dec 15 09:14:11
RT @SwingWarrior: Momentum Day Trading Strategy For Beginners: https://t.co/cbuuJohSSV | #Stocks #Trading $SPY $QQQ $VXX $USO $DIA $X https…
Swing Trade Warrior
1 Dec 15 09:08:23
Momentum Day Trading Strategy For Beginners: https://t.co/cbuuJohSSV | #Stocks #Trading $SPY $QQQ $VXX $USO $DIA $X https://t.co/KQD21DZDmy
1 Dec 15 08:58:04
RT @WarriorNewsFeed: Make $200 a Day Trading Stocks | Get on the Fast Track https://t.co/mfaUfjE7ri #Trading #Stocks $IWM $VIX $UNG $X http…
1 Dec 15 08:51:32
X SPDR S&P Biotech Index ETF 52Wk High https://t.co/MK53jEsGVp $X $GOOG $UGAZ $AGN #X #nasdaq #finance
1 Dec 15 08:50:03
USO United States Oil Fund, LP Bid https://t.co/03Hg15QBse $USO $QLD $VTI $X #USO #tradeideas #pennystocks
1 Dec 15 08:45:32
PLUG Plug Power, Inc. Stock Forum https://t.co/a1nwIvU118 $PLUG $TRV $ALRM $X #PLUG #invest #pennystocks
1 Dec 15 08:39:10
GLW Corning, Inc. Shares https://t.co/9Jh1Gj9Rrg $GLW $X $BBRY $GLW #GLW #nasdaq #tradeideas
Lucky Jimmy
1 Dec 15 08:39:04
GDXJ Market Vectors Junior Gold Miners Market Cap https://t.co/7x54zgyUzY $GDXJ $ALRM $X $NUGT #GDXJ #tradeideas #stock
1 Dec 15 08:37:33
FOLD Amicus Therapeutics, Inc. Short Sales https://t.co/AgDMosxJKd $FOLD $ETN $XLE $X #FOLD #stockmarket #finance
Stock Forums
1 Dec 15 08:37:04
ETN Eaton Corp. News https://t.co/a0sIqeam9F $ETN $ABX $X $NAT #ETN #stocks #stocks
1 Dec 15 08:36:03
U.S. Steel is streamlining its flat-rolled operations https://t.co/UygfhExgmE $X https://t.co/CCfusd2Ujq
Perry Pendleton Inc.
1 Dec 15 08:34:47
RT @stockspastor: The goal is to continue to accumulate the cheapies on $YHOO, $TWTR, $X, $P, $GPRO options before the huge spike. We buy l…
1 Dec 15 08:28:22
$X: U.S. Steel announces it will streamline and consolidate its flat-rolled facilities https://t.co/ppFldhBRY7
1 Dec 15 08:27:07
Monday gave me a fair price on $x, i set the order up last night, today X up, order fills, watch X drop now
1 Dec 15 08:22:11
@MilitantSchwul @CAVandy @LadyFOHF @georgepearkes exactly. Prior round based on these financials. Financials now this. Model says value = $x
1 Dec 15 08:16:22
Profit From These 3 Oversold Earnings Trades $BWLD $DSW $TIF $TSN $WFM $X https://t.co/pYnpxqGfjA https://t.co/R3vBDMupjy
1 Dec 15 08:12:20
Volume Alert - X 8.20 United States Steel Corp $X Hit a high today of 8.24 Closing the day 10:30 at 8.20 +0.13 https://t.co/UWfSk51Yan
Warrior Trading News
1 Dec 15 08:05:08
Make $200 a Day Trading Stocks | Get on the Fast Track https://t.co/mfaUfjE7ri #Trading #Stocks $IWM $VIX $UNG $X https://t.co/0m6Pi0ORw9
1 Dec 15 08:00:58
RT @LawTrades: Answered: If a startup's valuation is $x, how much larger should its cap on a convertible note be? https://t.co/Ce8KfYlpbp
1 Dec 15 07:59:43
@natalo25 Siempre me cae mal que las cosas valgan $X.99, me estresa la centavera.
1 Dec 15 07:51:33
X USX-US Steel Group, Inc. Day Low https://t.co/PDbv9JgH7S $X $T $SVXY $ABX #X #share #stock
Anmol Chandhok
1 Dec 15 07:42:45
$X steel bottomed out
Dumberer Money
1 Dec 15 07:41:21
$X strong today, likely on falling $UUP
IH News Desk
1 Dec 15 07:39:34
GIGA Giga-tronics Inc. Day Low https://t.co/95mAlEkAL8 $GIGA $PANW $X $GDX #GIGA #invest #tradeideas
Binary Trader Pro
1 Dec 15 07:38:38
RT https://t.co/Xsd9sFv7C5 CMG Chipotle Mexican Grill Inc. Summary https://t.co/n5aBQbUw3w $CMG $X $SUNE $NSC #CMG #stocks #finance
1 Dec 15 07:36:04
CMG Chipotle Mexican Grill Inc. Summary https://t.co/1JmoEUYzWJ $CMG $X $SUNE $NSC #CMG #stocks #finance
Anmol Chandhok
1 Dec 15 07:33:49
$X can really pop here, might have bottomed out
Stocks Pastor
1 Dec 15 07:24:26
$TERP and $SUNE tearing it this morning. $X and $P shaping up. $TWTR looking to hold $25. $YHOO profit taking https://t.co/tPl3Ppwbfp
1 Dec 15 07:05:13
RT WKRBNews: Tmx Group Limited Price Target Cut to C$41.00 by Analysts at Macquarie $X https://t.co/QjrhktchGz #TMXGroup
Grigoriy Kogan
1 Dec 15 07:05:00
@runkeeper Your survey asked would I susbscribe for $x/year but didn't ask why. Main reason why I wouldn't: Your GPS data isn't accurate.
1 Dec 15 06:41:50
$X up nice from $8.00 buy
Kristie Wells
1 Dec 15 06:33:14
@boltyboy: Yeah! Best $x I never spent! 😉
1 Dec 15 06:30:48
Michele Schneider
1 Dec 15 06:29:00
A few on my long focus list: $NFLX $RDC $X $YUM $STT $MCK $F
1 Dec 15 06:28:37
$X TOP OI CHANGES: https://t.co/WyNw9IB1vl
Mike Maynard
1 Dec 15 06:26:30
@jimcramer $x has one of the biggest short positions, if memory serves. much too early to sniff around, but on my radar.
Jarrad Fiorito
1 Dec 15 06:18:11
RT @DeltaNinety: Focus List for today $ICON $NMBL $P $YELP $MSFT $OPK $BLOX $GLBL $MFRM $LXRX $CANF $BMO $FIT $EMES $X $CMI $APOL
Anmol Chandhok
1 Dec 15 06:10:14
1 Dec 15 06:09:43
@SquawkStreet $x and $aa same price from 1998 lol
Options Answers
1 Dec 15 06:05:10
RT @corymitc: #DayTrading Stock Picks for Wk of Nov 30 https://t.co/k7W7VIxqqL $VRX $TERP $HZNP $CNX $OAS $WPZ $WLL $NVAX $SWN $CHK $X $SC…
By  +Follow July 29, 2013 4:14PM



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