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Stocks Pare Back, Gold Surges in Thursday Trading

By  +Follow September 19, 2013 2:02PM
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Unable to maintain the ecstatic momentum unleashed by outgoing Fed Chairman Ben Bernanke’s announcement ahead of Wednesday’s closing bell that the Central Bank’s fiscal stimulus program was to remain unchanged for the time being, stocks ended the day mostly lower on Thursday.

The Standard & Poor’s 500 index was off by 0.18 percent to 1,722.34 points, while the Dow Jones Industrial Average closed 0.25 percent lower at 15,636.55. The NASDAQ added a modest but respectable 0.15 percent, finishing the day at 3,789.38.

Sept. 18's unexpected announcement of the continuance of the quantitative easing program also sent gold on a path to its highest one-day gain in nearly five years, while Treasury yields plummeted from recent two-year highs.

While Bernanke’s announcement about the Fed move, or lack thereof, was widely seen as surprising, it was largely keeping in line with statements the Chairman has been making all year, to the effect that only a substantial improvement in the US economy would provide the proper context in which to commence the “taper.”

As if on cue, the day’s only economic data was the Housing Department’s August existing home sales figures, which rose 1.7 percent during the recently ended month, the highest level in almost 7 years, and besting expectations of a 2.6 percent drop.

On the S&P 500, regional and money center bank stocks took a hit from the Fed’s announcement, with Region’s Financial Corp. (RF) , Huntington Bancshares ($HBAN), and Wells Fargo ($WFC) all ending the day lower on heavy trading. JPMorgan Chase (JPM) dropped over a percent after announcing that it would pay nearly $1 billion to settle claims related to last summer’s “London Whale” trading scandal.

The Dow saw most components in the red, with Unitedhealth Group (UNH) taking the heaviest loss, down over 3 percent. Home Depot (HD) ended 1.5 percent higher in reaction to the housing sales news.

The NASDAQ was higher by the closing bell, with tech shares taking the lead; Groupon Inc (GRPN) , Apple (AAPL) , and Yahoo! (YHOO) all added substantially. Meanwhile, Tesla Motors (TSLA) ended the day another 7 percent higher after an upgrade from Deutsche Bank (DB) .

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 DB
Sarcasm Bot
27 Nov 14 08:24:48
$DB This stock is worth about $30.00 per share.
NASDAQ
27 Nov 14 07:16:12
$DB - Deutsche Bank Closes Down Physical Precious Metals Trading Operations http://t.co/YrX9nqILly
Large Void Bot
27 Nov 14 07:00:48
Popular: $BB.CA, $JAKK, $USD, $DB, $CONE, $PVH, $IEV, $KRE, $BCE, $IRBT, $MMC, $CLX, $IRWD, $ENDP, $INFI, $CL, $ILMN, $BRK.A, $NTES, $POST
alpe pinnazzo
27 Nov 14 06:11:34
$DB Deutsche Bank closes down physical precious metals trading operations - DJ, now goes to Trafigura,Glencore or even better Minmetals??
Jake13
26 Nov 14 22:29:14
DB Year to date has changed -31.84% percent. +2.94% in the last 30 days. $DB Deutsche Bank Ag Full breakdown L http://t.co/jl1lxR0q2A
Jake13
26 Nov 14 22:28:52
$DB DB Stock year to date has changed -31.84% percent. +2.94% in the last 30 days. $DB Deutsche Bank Ag Full break http://t.co/nKaVOfzRjI
NASDAQ
26 Nov 14 15:32:23
$DB - Correction to Air-France KLM Hedging story http://t.co/A382ZfXhBZ
NASDAQ
26 Nov 14 13:42:16
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/K8zzeE21b3
NASDAQ
26 Nov 14 13:07:54
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/Vs3oBuqdb4
NASDAQ
26 Nov 14 12:49:06
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/YciELXnM43
NASDAQ
26 Nov 14 12:31:09
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/5pFScPWVqa
NASDAQ
26 Nov 14 12:26:02
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/M0dGfYncEE
OTPicks.com
26 Nov 14 12:19:48
http://t.co/NYsxQOU64w clayton: DB 32.92 Deutsche Bank Ag $DB added to my watch: clayton http://t.co/YyIQngc0gy http://t.co/NYsxQOU64w
NASDAQ
26 Nov 14 12:10:05
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/eAWJaWi2zh
NASDAQ
26 Nov 14 12:04:09
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/ffxxGu5iHe
NASDAQ
26 Nov 14 11:58:02
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/nEA53QJA8q
clayton
26 Nov 14 11:53:26
DB 32.92 Deutsche Bank Ag $DB added to my watch list. Right now with DB I am watching the last price 32.92 Hig http://t.co/irVXFTIUVu
clayton
26 Nov 14 11:53:04
$DB DB 32.92 Deutsche Bank Ag $DB stock added to my watch list. Right now with DB I am watching the last price 32. http://t.co/qE6Xay7Y7b
Investing Insight
26 Nov 14 11:44:19
BreakoutStocks: New breakout highs for $BIDU, $FXI, $FB, $TMUS, $DB, $HTZ http://t.co/hGp2fU4DYu
me, myself & stocks
26 Nov 14 11:24:34
RT @BreakoutStocks: New breakout highs for $BIDU, $FXI, $FB, $TMUS, $DB, $HTZ http://t.co/EJVP0SFctC
MarketFaceToday
26 Nov 14 11:23:01
RT @BreakoutStocks: New breakout highs for $BIDU, $FXI, $FB, $TMUS, $DB, $HTZ http://t.co/EJVP0SFctC
Top Breakout Stocks
26 Nov 14 11:22:53
New breakout highs for $BIDU, $FXI, $FB, $TMUS, $DB, $HTZ http://t.co/EJVP0SFctC
Market Int Center
26 Nov 14 10:59:21
Deutsche Bank $DB Showing Support Near $32.09 ( http://t.co/vIxQib6QQq )
Lucky Jimmy
26 Nov 14 10:43:28
DB Stock up +1.29% percent Today $DB High is at 32.99 and the Low 32.88 with current volume of 834,844. Deutsc http://t.co/wNHf5tWtEN
Lucky Jimmy
26 Nov 14 10:43:06
$DB DB up +1.29% percent Today $DB Stock High is at 32.99 and the Low 32.88 with current volume of 834,844. Deutsc http://t.co/DDte9FNXHI
Investors Hangout
26 Nov 14 10:25:43
leahanne: Volume Alert - DB 32.95 Deutsche Bank Ag $DB Hit http://t.co/WlMBHmYRfd
Investors Hangout
26 Nov 14 10:25:41
leahanne: Volume Alert - DB 32.95 Deutsche Bank Ag $DB Hit http://t.co/keznjEZds8
leahanne
26 Nov 14 10:22:49
Volume Alert - DB 32.95 Deutsche Bank Ag $DB Hit a high today of 32.99 Closing the day 10:29 at 32.95 +0.45 +1 http://t.co/37NJzh3Khx
Mook Trader
26 Nov 14 10:05:05
$DB rates $BDX a hold rating. just came out
ValueWalk
26 Nov 14 09:13:37
Libor Market: Regulators Misses Deadline on Individual Fines by @MarkMelin http://t.co/60jBdLeafW $DB $RBS
jim50
26 Nov 14 07:17:17
DB Gapped up +0.33 $DB Last Price 32.93 Day High 32.97 Day Low 32.94 Change +0.43 Volume 94,270 Today 98 stock http://t.co/lJ94p87Lkz
jim50
26 Nov 14 07:16:55
$DB DB Stock Gapped up +0.33 $DB Last Price 32.93 Day High 32.97 Day Low 32.94 Change +0.43 Volume 94,270 Today 98 http://t.co/w2MTrUZ67H
ClosingBell
26 Nov 14 07:11:05
Equities tagged #oversold - $AEM $BBG $BIS $BSBR $CAM $CIEN $CIG $CUR $DB $DRV http://t.co/DA7ArwRYjF
Media Sentiment
26 Nov 14 06:40:04
$DB received a new alert. Find out why at http://t.co/5lwmDm2SCs #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 120
Sunrise Trader
26 Nov 14 06:33:13
RT @BlueFielder: $DB : Continuing a strong march North
Cameron
26 Nov 14 06:30:24
$DB : Continuing a strong march North
Fish4Bucks
26 Nov 14 05:54:01
60m $DB Upper Trendline Pressure 32.770 #futures #stocks 08:53:52 AM http://t.co/lSMcM5bjRW Signals based o... http://t.co/lSMcM5bjRW
Troy Kuhn
26 Nov 14 04:18:57
Regulators Order Bank Of America‘s Merrill Lynch International Unit To Improve Risk Management. http://t.co/YOkzFZ6SHj $BAC $DB
Fish4Bucks
26 Nov 14 03:53:50
60m $DB Upper Trendline Pressure 32.770 #futures #stocks 06:53:41 AM http://t.co/lSMcM5bjRW Signals based o... http://t.co/lSMcM5bjRW
Quantheta
26 Nov 14 00:59:56
#SENTISHIFTUP $SPY $DRWI $HA $PX $DB $MBLY $USD $DGX $SYY $NDX #quantheta #sentiquant
Jake13
25 Nov 14 23:28:13
DB Year to date has changed -32.63% percent. +1.75% in the last 30 days. $DB Deutsche Bank Ag Full breakdown L http://t.co/1TA7s94Tmt
Jake13
25 Nov 14 23:27:51
$DB DB Stock year to date has changed -32.63% percent. +1.75% in the last 30 days. $DB Deutsche Bank Ag Full break http://t.co/cbyCOI3ggV
chartguy89
25 Nov 14 23:18:25
DB 32.50 Deutsche Bank Ag Stock Charts $DB Last Updated: 11/25/14 Last price: 32.50 Total volume: 2,800,804 DB http://t.co/5nc1hlS9dk
chartguy89
25 Nov 14 23:18:09
$DB DB 32.50 Deutsche Bank Ag Stock Charts $DB Last Updated: 11/25/14 Last price: 32.50 Total volume: 2,800,804 DB http://t.co/fZ7ZAvQv27
NASDAQ
25 Nov 14 23:03:44
$DB - Air-France KLM Cuts Amadeus Stake to 2.2% in Hedging Deal http://t.co/1JjhspBTC2
Jessica Jerreat
25 Nov 14 16:54:49
RT @DBAmericas: $DB supports @pressfreedom and the brave journalists honored tonight #IPFA http://t.co/AUhm13iTSQ
Deutsche Bank
25 Nov 14 16:54:04
$DB supports @pressfreedom and the brave journalists honored tonight #IPFA http://t.co/AUhm13iTSQ
SwingTradeBot
25 Nov 14 15:00:41
Scan results - Crossed Above 50 DMA today: $DY $HRG $DSKY $QIHU $KANG $SFL $LAKE $GRUB $RXN $DB ... http://t.co/qNy9tGbXSY
NASDAQ
25 Nov 14 13:02:17
$DB - CMBS Make a Comeback in Europe http://t.co/HZIcC5A4Zv
NASDAQ
25 Nov 14 13:00:07
$DB - EUROPE MARKETS: Euro Stocks Climb As German Economy Logs Modest GDP Growth http://t.co/gXM6a8yZwO
				
				
By  +Follow September 19, 2013 2:02PM
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