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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
ORHN YVZ
19 Dec 14 01:33:50
RT @memetsimsek: .“@sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB http://t…
HotKeyTrading
18 Dec 14 23:00:07
Unusual Options Activity: Calls: $XLP $DB $PXD $ALU $LH $JD $YPF $CVS $UBNT $PAY $AGCO $EWY $CY $CP $UCO http://t.co/Vv2VEnpBuv #mkt #stock
Naser Trtovac
18 Dec 14 17:47:37
RT @sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB via @ReutersJamie http:/…
Burgowicz
18 Dec 14 17:06:19
RT @sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB via @ReutersJamie http:/…
Hedge AccordingLy
18 Dec 14 16:15:11
$DB $TLT “@themoneygame: Deutsche Bank's top economist declares the 'chart of the decade' http://t.co/GkmXTPIFlZ http://t.co/sMV8eZbVL3”
CityBiz
18 Dec 14 16:15:09
Boom! Online lender @OnDeckCapital's shares soar in debut (@noahbreslow smiles) http://t.co/hUUH9AAqI1 $ONDK $JPM $BAC / $MER $MS $DB
NYC Voices
18 Dec 14 13:30:30
Boom! Online lender @OnDeckCapital's shares soar in debut (@noahbreslow smiles) http://t.co/Vz3RmkRin4 $ONDK $JPM $BAC / $MER $MS $DB
CityBiz
18 Dec 14 13:15:08
Boom! Online lender @OnDeckCapital's shares soar in debut (@noahbreslow smiles) http://t.co/NyVyulwAnr $ONDK $JPM $BAC / $MER $MS $DB
DK1
18 Dec 14 12:58:58
$DB http://t.co/w5CyvVY4y3
Analyst Ratings
18 Dec 14 11:23:28
Want the latest analyst ratings on $TXN $BKH $DB $PACB $ERJ? Get Them Delivered to Your Inbox http://t.co/nSJuDtP5Bv
HotKeyTrading
18 Dec 14 11:00:06
Unusual Options Activity: Calls: $DB $PXD $ALU $LH $JD $YPF $CVS $UBNT $PAY $AGCO $EWY $CY $CP $UCO $ICE http://t.co/TRx9EnjwT5 #analyst
DK1
18 Dec 14 09:56:45
I'm checking out $DB http://t.co/3uat1xpSwQ
Sunrise Trader
18 Dec 14 08:58:09
$DB a good tell TY to my pilot @bluefielder
Sunrise Trader
18 Dec 14 08:42:19
RT @BlueFielder: $DB New HoD. Important
Cameron
18 Dec 14 08:41:37
$DB New HoD. Important
CityBiz
18 Dec 14 08:24:19
Boom! Online lender @OnDeckCapital's shares soar in debut (@noahbreslow smiles) http://t.co/hUUH9AAqI1 $ONDK $JPM $BAC / $MER $MS $DB
NYC Voices
18 Dec 14 08:18:28
Boom! Online lender @OnDeckCapital's shares soar in debut (@noahbreslow smiles) http://t.co/Vz3RmkRin4 $ONDK $JPM $BAC / $MER $MS $DB
mecit şimşek
18 Dec 14 07:13:06
RT @memetsimsek: .“@sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB http://t…
Mahmut ASLAN
18 Dec 14 06:58:49
RT @memetsimsek: .“@sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB http://t…
Media Sentiment
18 Dec 14 06:45:04
$DB received a new alert. Find out why at http://t.co/5lwmDm2SCs #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 201
Market Int Center
18 Dec 14 06:41:08
Deutsche Bank $DB Showing Bearish Technicals With Support At $29.60 ( http://t.co/MBaTtNeK0l )
Marty Leary
18 Dec 14 06:40:59
Are you listening $DB? RT @Bettermarkets: #Barclays CEO Antony Jenkins calls for end of universal banking #TBTF: http://t.co/oGegLeiLzx”
Ben Rabidoux
18 Dec 14 05:46:30
RT @SBarlow_ROB: was someone looking for this? RT @sobata416: "The market has predicted rate hikes for the past 5Ys" - $DB http://t.co/4v…
Scott Barlow
18 Dec 14 05:35:59
was someone looking for this? RT @sobata416: "The market has predicted rate hikes for the past 5Ys" - $DB http://t.co/4vgegO1puj
Quantpost Service
18 Dec 14 05:05:44
$LVS $MGM News: "More Price Target Cuts For Battered #Gaming #Stocks $DB $LVS …" http://t.co/LdB8B8QiKp Board view: https://t.co/RYFr0dh3Ys
Benzinga.com
18 Dec 14 05:05:44
More Price Target Cuts For Battered #Gaming #Stocks $DB $LVS $MGM http://t.co/5Le3Tc8uit
Market Newswire
18 Dec 14 03:01:31
Deutsche Bank says to review strategy, no comment on Postbank sale report - http://t.co/HkP5gws1aC $DB #stock #news #stockmarket
heqi_zaxoli
18 Dec 14 02:24:24
RT @memetsimsek: .“@sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB http://t…
Sultan Suleyman
18 Dec 14 01:27:08
RT @memetsimsek: .“@sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB http://t…
Zeytinoglu Alparslan
18 Dec 14 01:17:47
RT @memetsimsek: .“@sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB http://t…
zeki şimşek
18 Dec 14 01:00:54
RT @memetsimsek: .“@sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB http://t…
Panta
18 Dec 14 00:01:45
RT @sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB via @ReutersJamie http:/…
philippe chalouni
17 Dec 14 23:46:31
RT @sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB via @ReutersJamie http:/…
Laurent Leylekian
17 Dec 14 23:29:21
RT @sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB via @ReutersJamie http:/…
Ayhan Özkan
17 Dec 14 23:26:05
RT @memetsimsek: .“@sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB http://t…
FB
17 Dec 14 23:10:02
RT @sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB via @ReutersJamie http:/…
HotKeyTrading
17 Dec 14 23:00:07
Unusual Options Activity: Calls: $DB $PXD $ALU $LH $JD $YPF $CVS $UBNT $PAY $AGCO $EWY $CY $CP $UCO $ICE http://t.co/Vv2VEnpBuv #trader
♓ Zeynep Şimşek ツ‏
17 Dec 14 22:50:07
RT @memetsimsek: .“@sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB http://t…
 Jr.
17 Dec 14 22:46:07
RT @memetsimsek: .“@sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB http://t…
Jake Losh
17 Dec 14 22:42:11
RT @sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB via @ReutersJamie http:/…
Serkan Gündeşli
17 Dec 14 22:41:05
RT @memetsimsek: .“@sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB http://t…
Lobsang
17 Dec 14 22:40:50
RT @sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB via @ReutersJamie http:/…
asil
17 Dec 14 22:35:29
RT @memetsimsek: .“@sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB http://t…
Gülgün Koyuncuoğlu
17 Dec 14 22:34:35
RT @memetsimsek: .“@sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB http://t…
AlirızaKızılboğa
17 Dec 14 22:34:33
RT @memetsimsek: .“@sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB http://t…
Mehmet Simsek
17 Dec 14 22:33:32
.“@sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB http://t.co/poV81I0Oh5”
MarcToMarket
17 Dec 14 22:06:56
RT @sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB via @ReutersJamie http:/…
Economiewurm
17 Dec 14 22:03:41
RT @sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB via @ReutersJamie http:/…
Doruk Ergun
17 Dec 14 22:00:24
RT @sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB via @ReutersJamie http:/…
David Gorelik
17 Dec 14 21:56:56
RT @sobata416: Will 2015 be different? *No. "The market has predicted rate hikes for the past five years" - $DB via @ReutersJamie http:/…
				
				
By  +Follow September 19, 2013 2:02PM
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