Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?


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.

Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for X
29 Jan 15 09:56:04
$X: United States Steel PT Lowered to $37.00 at Nomura (X): http://t.co/1qCQ3fbvQY
janet gale
29 Jan 15 09:53:03
$X - United States Steel Corporation Declares Dividend http://t.co/lZaRtT2O5M
29 Jan 15 09:53:02
$X - United States Steel Corporation Declares Dividend http://t.co/euF5xC6CwF
Analyst Ratings
29 Jan 15 09:46:37
United States Steel's PT cut by Nomura to $37.00. http://t.co/5Jht6cvvpY $X #X
US Consumer News
29 Jan 15 09:46:21
United States Steel's PT cut by Nomura to $37.00. http://t.co/kWZY3WWKjU $X #X
29 Jan 15 09:41:11
$BIB Getting Interesting $XEG.TO $DRYS $UVXY $HXD.TO $X http://t.co/Ps6ZtmXVCe
29 Jan 15 09:40:41
CVX Stock Chart $CVX $POT $SLXP $X http://t.co/19eGefqZ6t http://t.co/kbdqAYB5G2
29 Jan 15 09:27:19
$SLB Opinions Updated Thursday, January 29, 2015 12:07:34 PM $EEM $DBC $SIMO $X http://t.co/s1AArLF6hf
29 Jan 15 09:26:08
^ESH15 Research Reports $^ESH15 $FNMA $X $F $CVX Barchart Opinion,Volume,Low,News,On Radar Stock Quote http:// http://t.co/RX5ClaHtzD
29 Jan 15 09:24:47
U.S. Steel's Cost Reduction Initiatives And Improved Market Conditions Boost Q4 Results http://t.co/MUoPeNZuFV by Trefis Team $X $MT $VALE
Chayton Falke
29 Jan 15 09:15:09
Top Twenty Recent Exits #15: Covered $X short for a 19.86% gain in 18 days. #trading #X #forex #stocks
Warren Puffett
29 Jan 15 09:03:43
$X HUGE buying and support .. Bounced off of mid BB. Perfect bounce.. Let's break 23
Livevol Community
29 Jan 15 09:00:06
IV30(TM) GAINER $CCJ +13.46% $UPL +11.23% $VIPS +10.74% $HP +10.45% $X +9.98% $BCOR +8.12% $HES +8.1% http://t.co/gwzPxhFaBv
Hestiah Ravenwood
29 Jan 15 08:26:41
@veroicone Oh, it’s cause it becomes unconscious. It’s just $X taken out of their account recurring. I totally get it. :)
29 Jan 15 08:17:45
$UUP Hit my list a few days ago $STEV $PBR $GLD $X $TLT http://t.co/1zdPc8cqlj
Trader Daily
29 Jan 15 08:03:14
United States Steel $X Stock Falls Today on Decreased Price Target http://t.co/HSKe33gPpU
Stock Trade Alerts
29 Jan 15 08:03:12
United States Steel $X Stock Falls Today on Decreased Price Target http://t.co/uFRUjSeRvQ
29 Jan 15 07:59:45
$NBG Buy or Sell Opinion Click here to find out if $NBG is a buy hold or sell. Watching these stocks. $SLXP $X http://t.co/XPQKoVPXDq
Investors Hangout
29 Jan 15 07:58:37
Emylers: $X Up to date company activities and other http://t.co/8nM8WMArRO
Investors Hangout
29 Jan 15 07:58:37
Emylers: $X Up to date company activities and other http://t.co/ln0J434Muy
TheStreet Alerts
29 Jan 15 07:57:08
United States Steel $X Stock Falls Today on Decreased Price Target http://t.co/t74ztVmnBl
29 Jan 15 07:54:37
Salimos de $X no fue en maximos de ayer pero aun asi un buen precio, gracias !!
29 Jan 15 07:51:35
$IBB Sell? Click here to find out if $IBB is a buy hold or sell. Watching these stocks. $TQQQ $TZA $X $TD http http://t.co/11KE2j19xI
29 Jan 15 07:50:40
$X down 6%
29 Jan 15 07:50:32
@t_allen_ 2/2...dont have to resort to that" Unless we said we'd climb an active volcano on our honeymoon if we raised $X but... No lol
v2 Ratings Bot
29 Jan 15 07:49:30
$X still looks overpriced (rated 2.9 as price is down to 22.39). Price vs ratings chart: http://t.co/npfdyzYOwt
Hit The Bid Radio
29 Jan 15 07:49:11
@SangLucci what I say about $X . Get those 23.50 puts ?
29 Jan 15 07:46:05
$X $GGB: Technical Notes Covering Steel Equities - United States Steel ...: http://t.co/MKVr1ZvCXN
29 Jan 15 07:46:00
0-star analyst Curt Woodworth from Nomura Holdings reiterated a BUY on $X. Curt has a 35% success rate http://t.co/Q1PT6drIGA #NYSE #stocks
Warren Puffett
29 Jan 15 07:44:33
$x im in . Holding long. 200k block bidding 22.30 something big coming imo
29 Jan 15 07:42:50
BLOCK TRADE: $X 1,175,526 shares @ $22.55 [10:41:42]
29 Jan 15 07:41:43
BLOCK TRADE: $X 1,175,526 shares @ $22.55 [10:41:42]
29 Jan 15 07:28:27
$X Up to date company activities and other important information about $X http://t.co/iSCC1w7U6j
29 Jan 15 07:27:04
$IWM Russell 2000 ETF (IWM) 116.62 -0.02 (-0.02%) $ALGN $X $DIA http://t.co/0DeThxJs9c
29 Jan 15 07:23:18
$ALGN Align Technology (ALGN) 58.05 -0.52 (-0.89%) $TQQQ $T $X http://t.co/nsgTID1E0N
29 Jan 15 07:19:15
United States Steel PT Set at $40.00 by Cowen and Company $X http://t.co/tFuHk7EmK2
Ian Hatch
29 Jan 15 07:18:46
@shamusyoung @Campster I've definitely done searches for "games under $x which support linux" though.
The Legacy News
29 Jan 15 07:11:37
United States Steel PT Set at $22.00 by Citigroup Inc. $X http://t.co/0mGXN3uolc
@razielbolsa, CMT
29 Jan 15 07:09:59
Out $X at 23 +7%
Alexander Morris
29 Jan 15 06:59:57
$X: At 1WkHIGH=22.91, hits:5, Rng:12%, ch:-2.8%[2.7%offLo], HFltBO+, PDayGp+, tf:0110001, medFlt:144M, HiPctSht[26%:2d], PrvClGap+[+0.4%]
29 Jan 15 06:45:42
@canuck2usa Your opinion on $X for long play or option. Thanks!
Kunta ¯\_(ツ)_/¯
29 Jan 15 06:38:12
Ejemplo 3: - Se transfirió el 80% del pase de Barisone a Lanus por $X EN PESOS. Si fue en dólares aclarar tipo de cambio. cc: @clubaunion
Kunta ¯\_(ツ)_/¯
29 Jan 15 06:37:13
Ejemplo 2: - Se cedió a @BrahianBa a Ecuador. Préstamo de N meses, cargo de $X y opción de $Y. cc: @clubaunion
Samantha LaDuc
29 Jan 15 06:37:09
Was not bullish w $X yday + my 24.35 PT has now turned into R so failure of 22.95 + this returns to $22
Kunta ¯\_(ツ)_/¯
29 Jan 15 06:36:55
Ejemplo 1: - Llegó @conigliofer desde RC. Préstamo de N meses, cargo de $X y opción de $Y. cc: @clubaunion
DayTrading Ninja
29 Jan 15 06:36:14
RT @CBOE_TV: Pre-Market Pulse: $X earnings beat, $SUNE weeklys, $FB muted rxn to earnings, $MCD new CEO, $BABA earnings disappoint http://t…
29 Jan 15 06:36:03
$MBLY $X $GPRO $INVN: Critical Alerts For Mobileye NV, US Steel, GoPro, Invensense and ...: http://t.co/fi5du1ibGp
Julian Close
29 Jan 15 06:30:44
PriceWatch Alerts for $MBLY, $X, $GPRO, $INVN & $MNKD from InvestorsObserver today: http://t.co/tULhzvlYJb #OptionsTrading #CoveredCalls
Investors Observer
29 Jan 15 06:30:44
PriceWatch Alerts for $MBLY, $X, $GPRO, $INVN & $MNKD from InvestorsObserver today: http://t.co/u6oNvqNUfE #OptionsTrading #CoveredCalls
29 Jan 15 06:30:03
Top Stock Picks: $YHOO $X $EA $ABMD $FB $AAPL $COMM $BA $CRUS $FSL http://t.co/TRx9EnjwT5 #nasdaq #markets #nyse #spy #daytrader #watchlist
By  +Follow July 29, 2013 4:14PM



blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.