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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
NASDAQ
29 Jan 15 00:02:02
$DB - Deutsche Bank Posts Surprise Profit -- Update http://t.co/9oUd5AutQb
NASDAQ
29 Jan 15 00:00:26
$DB - Deutsche Bank Posts Profit http://t.co/dzW7I9jUfx
Thudder & Wicks
28 Jan 15 23:46:03
$DB Deutsche Bank Turns To Profit In Q4 http://t.co/LY9kt8fkQL
Seeking Alpha
28 Jan 15 22:55:05
Deutsche Bank AG (DB) Q4 2014 Results - Earnings Call Webcast http://t.co/3oPq4rfAHW $DB
EarningsCast
28 Jan 15 22:50:45
Listen to $DB Q4 2014 earnings call - live at 02:00 AM, ondemand after - http://t.co/BG3SjhsOa0
Thudder & Wicks
28 Jan 15 22:46:03
$DB Deutsche Bank Posts Profit http://t.co/ieKQTdTVPf
Ken J Haley
28 Jan 15 22:43:31
#Earnings Deutsche Bank reports 4Q2014 net income of EUR 441 mil https://t.co/GEHjuCT30L https://t.co/M6tuC2kPYj $DB http://t.co/XmwAlcWBto
Randy Rye
28 Jan 15 22:43:04
So $DB made EUR $1bn pre-tax profit on >$1trillion AUM...
FRAN BENEDITO
28 Jan 15 22:27:10
Bloomberg breaking news: Deutsche Bank 4th-Qtr Profit 438 Mln Euros; Analysts Estimated 341 Mln Euro Loss $DB $DBK.DE
Gennady Kupershteyn
28 Jan 15 17:48:53
Short setups broke down today and plenty more ready to breakdown. http://t.co/NkM58rgqKX $SPY $QQQ $TRIP $CSIQ $BHP $DDD $HAL $DB $SAN
Nick Farley
28 Jan 15 12:25:11
ok kids, $db->bind(':start',date('Y-m-d H:i:s',strtotime(str_replace('/','-',$start)))); is your new dad
Briefing.com
28 Jan 15 12:07:12
Upcoming #earnings conference calls/webcasts http://t.co/jAZdQ5fM7H $POL $AME $X $ENR $BA $ETH $FB $QCOM $DB $BABA $NDAQ
NASDAQ
28 Jan 15 11:47:02
$DB - Additional Reserves for Potential Claims to Dent Deutsche Bank Results -- Report http://t.co/0YsOG87dYn
Fish4Bucks
28 Jan 15 11:30:28
60m $DB Check Short Profit Area 28.250 Alert @ 02:30:05 PM #trading #stocks http://t.co/lSMcM5bjRW Signals b... http://t.co/lSMcM5bjRW
Clyde Eltzroth
28 Jan 15 10:32:20
Deutsche Bank Hit With Millions in New Legal Fees · Handelsblatt $DB #breaking https://t.co/1hTCJhW1mr
NASDAQ
28 Jan 15 10:02:21
$DB - Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) http://t.co/28ltnO21HG
StockNewsWires
28 Jan 15 08:36:01
$FXCM $DB: Jail Swiss Bankers For Their Atrocities: http://t.co/YcaYNzD51h
ProVesting
28 Jan 15 08:21:04
$DB: Short Interest of Deutsche Bank AG (USA) Increases by 1%: http://t.co/8rsQY94FrW
Octaviano  Tatau
28 Jan 15 08:20:23
RT @DeutscheBank: MT @HelenAvery12: Equities the bet for this year says $DB's #DeAWM Asoka #Wöhrmann http://t.co/xOwL00IHBG via @euromoney
Christopher Teggatz
28 Jan 15 08:08:16
What's up with $DB losing .64? Just the general market decline?
Gennady Kupershteyn
28 Jan 15 08:07:01
Tighter stops triggering moving traders closer to cash. Short ideas rolling over. $HAL $YNDX $TSLA $SAN $DB $SPY $QQQ http://t.co/0NTAekdHIF
Cameron
28 Jan 15 07:55:43
$DB New LoD -- Caution signal
Deutsche Bank
28 Jan 15 07:10:11
Colombian-born #FannySanin is one of Latin America’s most distinguished abstract painters #HerlandExhibit $DB http://t.co/EWxKw34hyI
Ken Monahan
28 Jan 15 06:50:52
@RetroWallSt Any thoughts on $DB?
joseph amendolare
28 Jan 15 06:36:34
stocks I happily do not own: $BTU $WLT $FCX $CLD $SDRL $CS $DB $BGC
Abraham VanVarenberg
28 Jan 15 06:26:40
RT @DeutscheBank: MT @HelenAvery12: Equities the bet for this year says $DB's #DeAWM Asoka #Wöhrmann http://t.co/xOwL00IHBG via @euromoney
ali rana
28 Jan 15 06:06:09
RT @DeutscheBank: MT @HelenAvery12: Equities the bet for this year says $DB's #DeAWM Asoka #Wöhrmann http://t.co/xOwL00IHBG via @euromoney
halil ibrahim
28 Jan 15 06:04:16
RT @DeutscheBank: MT @HelenAvery12: Equities the bet for this year says $DB's #DeAWM Asoka #Wöhrmann http://t.co/xOwL00IHBG via @euromoney
euromoney.com
28 Jan 15 06:03:47
RT @DeutscheBank: MT @HelenAvery12: Equities the bet for this year says $DB's #DeAWM Asoka #Wöhrmann http://t.co/xOwL00IHBG via @euromoney
Deutsche Bank
28 Jan 15 06:03:31
MT @HelenAvery12: Equities the bet for this year says $DB's #DeAWM Asoka #Wöhrmann http://t.co/xOwL00IHBG via @euromoney
Fish4Bucks
28 Jan 15 05:00:28
60m $DB Check Short Profit Area 28.610 Alert @ 08:00:18 AM #trading #stocks http://t.co/lSMcM5bjRW Signals b... http://t.co/lSMcM5bjRW
Sunny Bhamra™
28 Jan 15 04:51:23
of course the Monkey's at $DB gotta say something negative about $AAPL... whats new!! #EuroTrash
Fish4Bucks
28 Jan 15 04:00:21
60m $DB Check Short Profit Area 28.610 Alert @ 07:00:11 AM #trading #stocks http://t.co/lSMcM5bjRW Signals b... http://t.co/lSMcM5bjRW
Paul Vaughan
28 Jan 15 03:46:54
I want to truncate (in code) a table in #Moodle but no $DB->truncate() exists. I think I can $DB->delete_records() but won't this be slower?
BrutusMaximus
28 Jan 15 03:09:09
$DB on FED language : -as long as the labour market continues to show improvement and they continue to project inflation returning
Octaviano  Tatau
28 Jan 15 03:05:26
RT @DeutscheBank: RT @MattMEgan5: $DB's Head of #ETFs #Bitcoin ETF could be a 'great potential solution.' http://t.co/peF2AEkQo3 via @CNNMo…
NASDAQ
28 Jan 15 03:05:02
$DB - Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) http://t.co/36aDqBGOm1
Fish4Bucks
28 Jan 15 03:00:18
60m $DB Check Short Profit Area 28.610 Alert @ 06:00:07 AM #trading #stocks http://t.co/lSMcM5bjRW Signals b... http://t.co/lSMcM5bjRW
Penny Stock Secret
27 Jan 15 21:55:06
This Guy Turned $100 into over $10,000 In Just 30 Days! http://t.co/vezCDY95do .. $DATA $DB $DBD
Saurabh Kumar
27 Jan 15 21:24:25
RT @MktOutperform: $JPM: up to $300 Million Gain On Swiss-Franc Turmoil $C, $DB & $BCS: about $400 million in cumulative trading losses htt…
Jonathan Giorgis
27 Jan 15 20:21:35
RT @MktOutperform: $JPM: up to $300 Million Gain On Swiss-Franc Turmoil $C, $DB & $BCS: about $400 million in cumulative trading losses htt…
ninja
27 Jan 15 19:58:38
RT @MktOutperform: $JPM: up to $300 Million Gain On Swiss-Franc Turmoil $C, $DB & $BCS: about $400 million in cumulative trading losses htt…
jesse livermore
27 Jan 15 19:54:42
RT @MktOutperform: $JPM: up to $300 Million Gain On Swiss-Franc Turmoil $C, $DB & $BCS: about $400 million in cumulative trading losses htt…
いつも悩んでる人
27 Jan 15 19:52:50
RT @MktOutperform: $JPM: up to $300 Million Gain On Swiss-Franc Turmoil $C, $DB & $BCS: about $400 million in cumulative trading losses htt…
Charlie Bilello, CMT
27 Jan 15 19:51:48
$JPM: up to $300 Million Gain On Swiss-Franc Turmoil $C, $DB & $BCS: about $400 million in cumulative trading losses http://t.co/o5eHPHfBi8
CityBiz
27 Jan 15 17:00:32
.@jpmorgan owned the #SwissFranc move http://t.co/ckYjS8I36Z via @clusterstock $JPM $C $DB
US Banking News
27 Jan 15 14:50:07
Deutsche Bank Given “Sell” Rating at Bankhaus Metzler $DB http://t.co/Ji2EneIixA
ProVesting
27 Jan 15 14:46:04
$DB $DECK: Analysts' Ratings Reiterations for January, 27th (ARX, AZN, BCS ...: http://t.co/bu6Ft05b4M
Abraham VanVarenberg
27 Jan 15 14:33:53
RT @DeutscheBank: RT @MattMEgan5: $DB's Head of #ETFs #Bitcoin ETF could be a 'great potential solution.' http://t.co/peF2AEkQo3 via @CNNMo…
US Consumer News
27 Jan 15 14:15:31
Deutsche Bank's sell rating reiterated at Bankhaus Metzler. http://t.co/Pf2VlIUI1v $DB #DB
				
				
By  +Follow September 19, 2013 2:02PM
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