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


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Results for DB
Somanath
31 Jul 15 21:51:37
Emylers : UVE Universal Insurance Holdings Inc. Ideas http://t.co/6RJ6r0WQXv $UVE $DB $… http://t.co/Buut7YTUxy) http://t.co/1cHLXr2bMP
Emylers
31 Jul 15 21:49:04
UVE Universal Insurance Holdings Inc. Ideas http://t.co/I9tzEBXsWm $UVE $DB $CTSH $JNK #UVE #stockmarket #finance
Lucky Jimmy
31 Jul 15 21:48:07
STZ Constellation Brands, Inc. Chart http://t.co/AB489w1A6q $STZ $UNG $DB $GPRO #STZ #stock #invest
danrocks
31 Jul 15 21:47:03
SH ProShares Short S&P 500 Fund Bid http://t.co/TNorFsV8dg $SH $DB $AVXL $AMBA #SH #stock #invest
Emylers
31 Jul 15 21:36:18
DB Deutsche Bank AG Yield http://t.co/5XF8oCDx8u $DB $CVS $FAGIX $SCMP #DB #pennystocks #stocks
IH NASDAQ OMX
31 Jul 15 21:36:10
DB Deutsche Bank AG Yield http://t.co/odomiHrOcA $DB $EA $ZIOP $TLT #DB #invest #investing
leahanne
31 Jul 15 21:35:57
DB Deutsche Bank AG Change http://t.co/7EZjcurOE9 $DB $INCC $XLU $IBM #DB #pennystocks #tradeideas
Emylers
31 Jul 15 21:33:09
AXP American Express Co. Dividend http://t.co/MZtsE9J9UE $AXP $MCD $DB $XBI #AXP #stocks #stockmarket
Market Realist
31 Jul 15 12:35:07
Macro Indicators for Week Ended July 31 $HEWG $DXGE $DB $SAP http://t.co/7SCo8q197H
Day Trading Academy
31 Jul 15 11:33:09
$DB arriba 1.75% hoy. 16.34% desde recomendación el 11 de febrero. Sólo $1.53 de próximo obj. http://t.co/MqICreR4Mw
BoardCentral
31 Jul 15 11:00:03
$DB "EU/IMF will save Greece at all cost - DB will be $35 shortly" on Yahoo! Finance message boards: http://t.co/hSJbimWdBJ
Day Trading Academy
31 Jul 15 10:55:53
$DB up 1.75% on the high today. Up 16.34% since recommendation on 02/11/15 for $30.41. Now $1.53 from next target. http://t.co/GhV658T485
Mario Roa
31 Jul 15 09:06:18
Deutsche Bank to freeze executive bonuses via RTRS http://t.co/g3LR9oTkdU $DB
Market Int Center
31 Jul 15 09:03:30
Deutsche Bank $DB Showing Support Near $33.94 ( http://t.co/MDVmQGt3Wq )
a. quant
31 Jul 15 08:52:01
every quarter and contemporaneously issuing new cheap options. No incentive. Rinse repeat. $GLUU @glumobile $TCEHY Why not $GS $MS $DB $CS ?
Dr Ausberto Torres
31 Jul 15 08:30:45
Cancel that vacation to Sylt. $DB
a. quant
31 Jul 15 07:35:29
$GLUU @glumobile is underwater with their $11.50 IPO and with Tencent $TCEHY . Why are they not presenting in front of $MS $DB $CS $GS?
Jamie Pastore
31 Jul 15 07:25:41
$DB didn't archive conversations between traders on LIBOR. Sometimes a bug isn't an error, but an intentional feature http://t.co/Yp1Qzvl0vB
Bidness Etc
31 Jul 15 07:09:00
#DeutscheBankAG Faces Another Regulatory Setback - http://t.co/79dxjzGFvE $DB http://t.co/VaFFbVKAUi
Tim Muzio
31 Jul 15 06:54:14
RT @cmogle: Amen. $DB #blockchain #SurviveAndThrive http://t.co/mWS73aF4sS @annairrera http://t.co/3WJaehZ779
Emolument
31 Jul 15 06:43:11
RT @valuewalk: London Bank Analyst Salaries: Who Pays The Best? http://t.co/trXRNXYpe9 Via @EmolumentTM $UBS $DB $GS $MS http://t.co/fa3XDE…
Conor M Ogle
31 Jul 15 06:30:38
Amen. $DB #blockchain #SurviveAndThrive http://t.co/mWS73aF4sS @annairrera http://t.co/3WJaehZ779
G_Schwarzenbach
31 Jul 15 05:17:33
RT @valuewalk: London Bank Analyst Salaries: Who Pays The Best? http://t.co/trXRNXYpe9 Via @EmolumentTM $UBS $DB $GS $MS http://t.co/fa3XDE…
ValueWalk
31 Jul 15 05:10:32
London Bank Analyst Salaries: Who Pays The Best? http://t.co/trXRNXYpe9 Via @EmolumentTM $UBS $DB $GS $MS http://t.co/fa3XDE1lTO
Thudder & Wicks
31 Jul 15 03:22:11
Libor probe: $DB failed to keep chats http://t.co/vOJeM21s6Z
Jake13
31 Jul 15 00:49:36
XLB Materials Select Sector SPDR Last Trade http://t.co/843EhX8N69 $XLB $PBR $NBHC $DB #XLB #tradeideas #tradeideas
IH News Desk
31 Jul 15 00:47:15
UBS UBS AG E.P.S. http://t.co/fjc4CbRRMb $UBS $DB $GLNG $MDWD #UBS #finance #pennystocks
IH News Desk
31 Jul 15 00:34:08
DB Deutsche Bank AG Message Board Posts http://t.co/98ni20ehI3 $DB $UCOBANK.IN $FIT $DRREDDY.IN #DB #stock #pennystocks
IH NASDAQ OMX
31 Jul 15 00:34:06
DO Diamond Offshore Drilling, Inc. Prev Close http://t.co/wbxCOaFDzH $DO $DB $IBM $CNX #DO #share #pennystocks
Seeking Alpha Alerts
30 Jul 15 21:55:17
@JabaPeltokangas $DB Deutsche Bank AG reports Q2 results http://t.co/wYHstACbdp
Financial Stocks
30 Jul 15 21:26:58
Deutsche Bank AG reports Q2 results http://t.co/rMn0xH6q8K $DB
Breaking News
30 Jul 15 21:26:57
Deutsche Bank AG reports Q2 results http://t.co/RpgiQz0i6c $DB
Venky Srinivasan
30 Jul 15 17:15:24
"@gtlackey: The Nitrous Scan 7/30: http://t.co/xxUtw0hhIc $PSL $RHS $DB $XOES $USG $CAKE $FFIV $ICUI $JAKK $VNTV $PRLB $FNF $CNI $EFII $DRE"
GTLackeyJr CMT
30 Jul 15 17:06:50
The Nitrous Scan 7/30/2015 http://t.co/t3co7kSMlA $PSL $RHS $DB $XOES $USG $CAKE $FFIV $ICUI $JAKK $VNTV $PRLB $FNF $CNI $EFII $DRE
Seeking Alpha Alerts
30 Jul 15 15:34:16
@JabaPeltokangas $db Deutsche Bank AG (DB) John Cryan on Q2 2015 Results - Earnings Call Transcript http://t.co/nDLAUWhiGq
dailystockplays.com
30 Jul 15 15:15:02
Stochastic Overbought http://t.co/qpuAiBtqTO $LNKD $AKAM $NLSN $SVU $MDLZ $DHI $LNG $MAS $WNC $DB $SIRI $NWL $ADT $DHR $NYCB $ADM $AEE $DRE
Day Trading Academy
30 Jul 15 11:57:40
$DB arriba 3.49% hoy. 13.98% desde recomendación el 11 de febrero. http://t.co/MqICrf8FE4 http://t.co/VwKMKf8dxE
Alexander Morris
30 Jul 15 11:22:04
$DB: 1mRunaway+:5 [+4%,.3%offHi], allTFs+; TLM:1.1, Gap+[+2.4%], 3MoHi+, DyVol:2.46M:1.4x:0.8x, DyRng:1.9%:1.2x:1.5x (PotLONG)
Jaewoo Lee
30 Jul 15 09:43:38
RT @Breakingviews: Deutsche Bank's Q2 numbers are smart on growth, shabby on costs http://t.co/Sg5xNs2REY @DominicElliott $DB http://t.co/z…
Alper KORKMAZ
30 Jul 15 08:55:55
Db up 5.25% on the high today Up 13.98% since recommendation made on 02/11/15, when the share price was €31.85 $DB https://t.co/p2OmNLM2oC
Jack Ewing
30 Jul 15 08:47:08
RT @Breakingviews: Deutsche Bank's Q2 numbers are smart on growth, shabby on costs http://t.co/Sg5xNs2REY @DominicElliott $DB http://t.co/z…
ALFARO & CALVO
30 Jul 15 08:31:55
RT @Breakingviews: Deutsche Bank's Q2 numbers are smart on growth, shabby on costs http://t.co/Sg5xNs2REY @DominicElliott $DB http://t.co/z…
Day Trading Academy
30 Jul 15 08:22:43
$DB up 3.49% on the high today. Up 13.98% since recommendation made on 02/11/15, when the share price was $30.41. http://t.co/GhV659aEZD
James Kelley
30 Jul 15 08:05:54
RT @Breakingviews: Deutsche Bank's Q2 numbers are smart on growth, shabby on costs http://t.co/Sg5xNs2REY @DominicElliott $DB http://t.co/z…
Patricia Samyn
30 Jul 15 08:00:45
RT @Breakingviews: Deutsche Bank's Q2 numbers are smart on growth, shabby on costs http://t.co/Sg5xNs2REY @DominicElliott $DB http://t.co/z…
Alexander Morris
30 Jul 15 08:00:05
$DB: 1mRunaway+:3 [+3%,.1%offHi], allTFs+; TLM:0.8; ILM:1.0, Gap+[+2.4%], 3MoHi+, DyVol:1.4M:0.8x:0.4x, DyRng:1.3%:0.8x:1x (PotLONG)
Dividend Master
30 Jul 15 08:00:00
@CostanzaEffect never got out all the way ..... have done nada today . $DB & others see way lower prepays in Q3 being big boost
Alicia GCS
30 Jul 15 07:56:16
RT @Breakingviews: Deutsche Bank's Q2 numbers are smart on growth, shabby on costs http://t.co/Sg5xNs2REY @DominicElliott $DB http://t.co/z…
Money News 24h
30 Jul 15 07:53:33
RT Breakingviews: Deutsche Bank's Q2 numbers are smart on growth, shabby on costs http://t.co/WlLgHAL1PW DominicElliott $DB …
Chris L. Plummer
30 Jul 15 07:50:27
RT @Breakingviews: Deutsche Bank's Q2 numbers are smart on growth, shabby on costs http://t.co/Sg5xNs2REY @DominicElliott $DB http://t.co/z…
				
				
By  +Follow September 19, 2013 2:02PM
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