logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Stocks Pare Back, Gold Surges in Thursday Trading

By  +Follow September 19, 2013 2:02PM
Share:
Tickers Mentioned:

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.


Signup for our daily newsletter and get our best articles emailed right to you!

Results for DB
HotKeyTrading
21 Oct 14 19:00:12
Gap Ups: $SMFG $CNL $HPT $PNM $SCOK $ALGN $POST $LII $RCI $SAN $DB $SANM $NCR $SWFT $WAL http://t.co/Vv2VEn80mr #nasdaq #investors #trading
Ariel Silahian
21 Oct 14 12:59:38
Algorithmic trading: OPEN Oct/21 SELL: $NOG $GOOG $PKG $BHI $TS $AVP $WRES $ETE $VIMC $REXX $STO $DNOW $THI $GOOGL $RF $AVGO $ERIC $APA $DB
NASDAQ
21 Oct 14 12:16:36
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/u5GFKBmdWr
NASDAQ
21 Oct 14 12:16:35
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/WvIbwSQ62v
NASDAQ
21 Oct 14 12:13:25
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/8KDckXL5x9
Chayton Falke
21 Oct 14 11:15:05
Top Twenty Recent Exits #11: Covered $DB short for a 11.25% gain in 12 days! #trading #DB #forex #stocks
NASDAQ
21 Oct 14 11:04:02
$DB - Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) http://t.co/2lw7hZt3By
NASDAQ
21 Oct 14 11:01:09
$DB - Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) http://t.co/LkhrXryhmO
Stock Moo
21 Oct 14 10:53:50
$db: Leading the way: Women on Wall Street http://t.co/77Bf6ZqdUe
Kate Kelly
21 Oct 14 07:52:10
$C buys energy, metal trading books from $DB as the latter cycles out of commodities #secretclub http://t.co/2ScxHYPrrd via @WSJ
Jonathan Leff
21 Oct 14 05:02:43
Citi's $C big push into commodities gathers pace with Deutsche's $DB oil, metals, power books ... http://t.co/bJ3KyFSLCi via #reuters
Bill Hine
21 Oct 14 03:57:14
$DB may forfeit 10% of its book value in forex-rigging probe. Banks frontrunning clients? Really? $BCS $UBS http://t.co/05SPMsoKsn
bribedDuck
21 Oct 14 03:47:14
@theflynews stupid $DB analyst, who downgrade $AAPL, was fired ;)
Gary Kendall
21 Oct 14 03:22:02
FX fines could reach $41 billion globally with $DB likely the biggest according to Citi analysis http://t.co/F38uXpBPpi
Joshua Roberts
21 Oct 14 02:57:23
Citi $C buys $DB's energy and metals book... NOTHING TO SEE HERE! http://t.co/JYlejwW8ah http://t.co/HJ68EFl74B
Alex Goncalves
21 Oct 14 02:54:32
RT @Buzz81: Forex-Rigging Fines Could Hit $41B Globally: Citi | http://t.co/W8hJBs7DMN | $DB @ 31.09 probably "most impacted" with a fine ~…
Eyang Sukur
21 Oct 14 02:50:29
RT Buzz Buzz81 : Forex-Rigging Fines Could Hit $41B Globally: Citi | http://t.co/1FIv937Z0B  | $DB @ 31.09 probably "most impacted" wit...
Buzz
21 Oct 14 02:49:47
Forex-Rigging Fines Could Hit $41B Globally: Citi | http://t.co/W8hJBs7DMN | $DB @ 31.09 probably "most impacted" with a fine ~5.1B EUR |
Mr. Tweetabit
21 Oct 14 01:40:29
So I think $DB price target of $16 for $RIG is unlikely. $23.40 is a massive bottom fishing opportunity.
Eyang Sukur
21 Oct 14 01:17:09
RT Chayton Falke ChaytonFalke : Recent #Trading #Top #Gainer #11 - COVERED $DB for a 11.25% gain! SHORT only 12 days! #DB #forex #stocks
Chayton Falke
21 Oct 14 01:15:02
Recent #Trading #Top #Gainer #11 - COVERED $DB for a 11.25% gain! SHORT only 12 days! #DB #forex #stocks
แมวH₂O : (ㆆᴗㆆ)
21 Oct 14 00:28:38
RT @neizod: @LXZE $db = new PDO();
เนยสดชโรดิงเจอร์แคท
21 Oct 14 00:27:32
@LXZE $db = new PDO();
Dr. Paul DeSantis
20 Oct 14 23:26:47
$DB Likely to face $6.5B in FOREX manipulation fines #ouch
Stock Moo
20 Oct 14 21:53:14
$db: Moody's assigns (P)A1 to Tewoo's bonds supported by SBLC from ICBC Tianjin http://t.co/nqViXx4k2P
HotKeyTrading
20 Oct 14 19:00:04
Gap Ups: $CNL $HPT $PNM $SCOK $ALGN $POST $LII $RCI $SAN $DB $SANM $NCR $SWFT $WAL $SAP http://t.co/Vv2VEn80mr #stockmarket #markets #mkt
NASDAQ
20 Oct 14 12:28:16
$DB - Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) http://t.co/BS5n564Y2p
Fish4Bucks
20 Oct 14 09:50:30
60m $DB 30.860 Price action Crossing up Median Resistance #stocks Signals based on the Fish4Bot indicator Pl... http://t.co/WZwETG8am0
Fish4Bucks
20 Oct 14 07:05:04
60m $DB 30.940 Price action Crossing up Median Resistance #stocks Signals based on the Fish4Bot indicator Pl... http://t.co/WZwETG8am0
Charts 123
20 Oct 14 07:03:02
Traders are rushing into $BCS $DB $QEP $SCOK $TSO http://t.co/FAa6smKjJf #stocks
Jake Freifeld
20 Oct 14 06:36:33
RT @DividendMaster: $DB out with piece claiming stock selloff / wider junk spreads = GDP drop of 1/2 to 1% next few quarters & suggests Fed…
Ursus Maritimus ن
20 Oct 14 06:34:27
RT @DividendMaster: $DB out with piece claiming stock selloff / wider junk spreads = GDP drop of 1/2 to 1% next few quarters & suggests Fed…
Large Void Bot
20 Oct 14 06:34:11
Daily Reversal (09:34): $DB Last: 30.80; pHigh: 30.77; rVol: 4.445; pClose: 30.60; LOD: 30.6800; Perf: 0.7%
Dividend Master
20 Oct 14 06:33:32
$DB out with piece claiming stock selloff / wider junk spreads = GDP drop of 1/2 to 1% next few quarters & suggests Fed rate hikes postponed
Fish4Bucks
20 Oct 14 06:33:27
60m $DB 31.840 Price action Crossing up Median Resistance #stocks Signals based on the Fish4Bot indicator Pl... http://t.co/WZwETG8am0
NASDAQ
20 Oct 14 01:15:25
$DB - Calendrier des sociétés sur 15 jours http://t.co/fHq5pGk8PQ
GiunaRothwell
19 Oct 14 02:36:31
RT @KnightonRaseda1: ☯Gain Followers ☯RT This ☯MUST FOLLOW ME I FOLLOW BACK ☯Follow everyone who rts ☯Gain #TCFollowTrain #mtvhottest $d…
BBlaiseRonnyy
19 Oct 14 02:29:22
RT @KnightonRaseda1: ☯Gain Followers ☯RT This ☯MUST FOLLOW ME I FOLLOW BACK ☯Follow everyone who rts ☯Gain #TCFollowTrain #mtvhottest $d…
_LatF_reder_ica
19 Oct 14 02:06:28
RT @KnightonRaseda1: ☯Gain Followers ☯RT This ☯MUST FOLLOW ME I FOLLOW BACK ☯Follow everyone who rts ☯Gain #TCFollowTrain #mtvhottest $d…
Sloan_eKa_ile
19 Oct 14 02:05:21
RT @KnightonRaseda1: ☯Gain Followers ☯RT This ☯MUST FOLLOW ME I FOLLOW BACK ☯Follow everyone who rts ☯Gain #TCFollowTrain #mtvhottest $d…
IIdalineMartii
19 Oct 14 02:03:22
RT @KnightonRaseda1: ☯Gain Followers ☯RT This ☯MUST FOLLOW ME I FOLLOW BACK ☯Follow everyone who rts ☯Gain #TCFollowTrain #mtvhottest $d…
bbGrettnaCami
19 Oct 14 01:53:01
RT @KnightonRaseda1: ☯Gain Followers ☯RT This ☯MUST FOLLOW ME I FOLLOW BACK ☯Follow everyone who rts ☯Gain #TCFollowTrain #mtvhottest $d…
Wilhi_d_eEarvin
19 Oct 14 01:50:23
RT @KnightonRaseda1: ☯Gain Followers ☯RT This ☯MUST FOLLOW ME I FOLLOW BACK ☯Follow everyone who rts ☯Gain #TCFollowTrain #mtvhottest $d…
KnightonRaseda1
19 Oct 14 01:46:18
☯Gain Followers ☯RT This ☯MUST FOLLOW ME I FOLLOW BACK ☯Follow everyone who rts ☯Gain #TCFollowTrain #mtvhottest $db}
Scott Spencer
17 Oct 14 17:29:16
$ACHN $11.05 LONG $DB affirms "buy" rating with $17pt on novel nucleotide ACH-3422 patents... http://t.co/rtWiK5z8Fj
NASDAQ
17 Oct 14 10:08:02
$DB - European Shares Bounce After Selloff -- 3rd Update http://t.co/3EjQCgPNj0
Mr. Tweetabit
17 Oct 14 09:46:13
$DB had a good run with bear calls on $RIG. But is $16 not a tad overly bearish - 42% of tangible book value: rarely fallen below 60% of BV.
Mr. Tweetabit
17 Oct 14 09:34:59
$DB lowers $RIG price target to $16 from $27. Maintains sell. http://t.co/JVTZHXsERQ
Market Int Center
17 Oct 14 09:31:50
Deutsche Bank $DB Trading Near $28.77 Support Level ( http://t.co/qygYzK09qA )
Trefis.com
17 Oct 14 09:06:03
Financials Weekly Notes: Wells Fargo, Goldman Sachs and Deutsche Bank http://t.co/kaO9VF0TV4 by Trefis Team $DB $GS $WFC
				
				
By  +Follow September 19, 2013 2:02PM
Share:

Comments

 

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.