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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
Deutsche Bank
26 Mar 15 14:15:58
Fed's Facebook status: “It’s Complicated.” $DB Chief International Economist Torsten Slok on @CNBCClosingBell http://t.co/1R9LL2BGCK
AdvantageData
26 Mar 15 14:15:12
[Key Gainers & Losers] + $AMD (USD) 7.75% 8/1/2020 +1.0% + $CHK 6.625% 8/15/2020 +2.2% - $DB AG VAR% 5/24/2028 -2.0% http://t.co/BwNaUx5T4J
Deutsche Bank
26 Mar 15 09:52:03
Catch Torsten Slok, $DB Chief International Economist, on @CNBCClosingBell today at 3:30pm ET w/ @greg_ip, discussing the #Fed, US #economy
BreakingStocksNews
26 Mar 15 07:07:01
$C $RBS $CS $BCS $DB $JPM $BNPQY $MS $UBS: Wall Street Titans Are Winning on European Banks' Home Turf: http://t.co/YSzzsc9QFC
Daily Stock Forecast
26 Mar 15 02:50:05
Top 5 forecasted #stocks for Thursday, March 26: $HCHC - Short, $DB - Long, $DMND - Long, $GRX - Long, $BV - Long. http://t.co/kWwX0aPo1L
Zubeyr Kamil Açıksar
25 Mar 15 14:46:58
RT @cr_harper: Big story on Bloomberg terminals: Deutsche Bank wins German backing to be more like Goldman Sachs @nickcomfort $DB
Bloomberg Deals
25 Mar 15 13:14:54
RT @jodixu: JPMorgan Beating Deutsche Bank in Bond Measure That Matters Most http://t.co/Ia7oEjrubM via @business @LisaAbramowicz1 $JPM $DB…
Jodi Xu Klein
25 Mar 15 13:11:34
JPMorgan Beating Deutsche Bank in Bond Measure That Matters Most http://t.co/Ia7oEjrubM via @business @LisaAbramowicz1 $JPM $DB #Bond
Market Int Center
25 Mar 15 11:54:47
Deutsche Bank $DB Showing Support Near $34.68 ( http://t.co/8zFomYfZZq )
Tad Doughty, CFS
25 Mar 15 11:44:59
The German Goldman Sachs - Deutsche Bank http://t.co/WoGjYz1U0v $GS $DB
Banking Reports
25 Mar 15 11:41:27
RT @cr_harper: Deutsche Bank wins Germany's backing to be more like Goldman Sachs http://t.co/yMUKVv83AG via @nickcomfort @business $DB $GS
Anne Cronin
25 Mar 15 11:29:06
RT @cr_harper: Deutsche Bank wins Germany's backing to be more like Goldman Sachs http://t.co/yMUKVv83AG via @nickcomfort @business $DB $GS
Christine Harper
25 Mar 15 11:28:31
Deutsche Bank wins Germany's backing to be more like Goldman Sachs http://t.co/yMUKVv83AG via @nickcomfort @business $DB $GS
NASDAQ
25 Mar 15 11:28:21
$DB - Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) http://t.co/lYLsqncIWS
Christine Harper
25 Mar 15 10:23:28
Big story on Bloomberg terminals: Deutsche Bank wins German backing to be more like Goldman Sachs @nickcomfort $DB
TalkMarkets
25 Mar 15 09:39:04
3 More Foreign Banks' Faults On Fed's 'Living Wills' $JPM $CS $UBS $MS $BK $BCS $DB $STT $RBS $C $GS $BAC http://t.co/RvE7CSPoMD
Joshua D. Henry
25 Mar 15 07:50:27
W/ depreessed ROE & PE apparent universal banking model doesnt work e.g. Citibank $C BofA $BAC, $JPM, UBS $OUBSF, Deutsche $DB Barclays $BCS
D. Geromichalos ScD
25 Mar 15 07:05:30
Most #Grexit scenarios economic & ignore geopolitics http://t.co/FByLuEA7lB MT @DeutscheBank: $DB pres. 3 scenarios http://t.co/IC3RJp3oJX
Joshua D. Henry
25 Mar 15 05:19:18
Deutsche Bank $DB spinning off retail becoming investment & merchant #bank aimed @ capital mkts & companies like $GS http://t.co/otQ1r7KrbI
David Nelson
25 Mar 15 04:17:09
$DGX - $DB downgrades but raises estimates for this year and next. $%^^&#@@ (Long)
TalkMarkets Recap
25 Mar 15 03:39:04
3 More Foreign Banks' Faults On Fed's 'Living Wills' $JPM $CS $UBS $MS $BK $BCS $DB $STT $RBS $C $GS $BAC http://t.co/khW1d8SePd
$Stocknewsalerts
25 Mar 15 03:02:50
$DB Deutsche Bank honors 2015 ‟Artist of the Year” Koki Tanaka with first major solo exhibition From our Stock News Alerts App
ProTradersNews
24 Mar 15 23:58:07
$DB: Deutsche Bank Target of Unusually High Options Trading (DB): http://t.co/gt5qTPUbxJ
Andreas Cseh
24 Mar 15 23:00:27
#Deutsche Bank CUTS 38,000 JOBS $DB & MORE TO COME http://t.co/8p9PRBOLY8 @GazdasagTV @nolhu @indexhu @magyar_hirlap http://t.co/P7j38XAbc0
TalkMarkets
24 Mar 15 20:53:53
3 More Foreign Banks' Faults On Fed's 'Living Wills' $JPM $CS $UBS $MS $BK $BCS $DB $STT $RBS $C $GS $BAC http://t.co/RvE7CSPoMD
Hedge AccordingLy
24 Mar 15 19:15:13
Deutsche Bank: Russia Preparing To Use Energy in Economic War $DB
The Legacy News
24 Mar 15 17:27:16
Deutsche Bank Target of Unusually High Options Trading $DB http://t.co/GsqHxC1n34
StockNewsWires
24 Mar 15 16:26:05
$DB: Investors Buy High Volume of Deutsche Bank Put Options (DB): http://t.co/NRC5GynzuI
StockNewsWires
24 Mar 15 16:25:05
$DB: Investors Buy High Volume of Deutsche Bank Put Options (DB): http://t.co/Luf8wtJrJC
ProTradersNews
24 Mar 15 14:15:05
$FB $DB: DJIA Index Falls Triple Digits on Rate-Hike Chatter: http://t.co/YcH5pNZavm
NASDAQ
24 Mar 15 13:36:11
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/u9lqG1Lb1L
NASDAQ
24 Mar 15 13:30:05
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/c1w5AFRIOB
NASDAQ
24 Mar 15 13:29:05
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/4wovO1wrTL
Octaviano  Tatau
24 Mar 15 13:22:01
RT @DeutscheBank: #DavidBianco, $DB Chief US Equity Strategist, about #US economic recovery and #interestrates http://t.co/YDSoY6qtb7 @Squa…
NASDAQ
24 Mar 15 13:19:01
$DB - Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) http://t.co/iEJ3taJxG3
StreetAuthority
24 Mar 15 12:30:23
The current low rate environment has created record level European bond issuance. $DB $BCS should benefit greatly http://t.co/KbFKw4q2Wy
DK1
24 Mar 15 11:52:42
$DB been a nice mover
Cutlass
24 Mar 15 11:46:51
RT @SwatOptions: $DB APR.17 PUT 35 flow at 0.9-0.95.. someone knows something that we dont?? http://t.co/hagMF2cmVP
Deutsche Bank
24 Mar 15 11:39:08
Watch Alan Ruskin, $DB Head of G10 FX Strategy, discuss #Fed policy and the dollar on @bsurveillance earlier today http://t.co/mXmQ6Nrm1w
Options Network
24 Mar 15 11:34:59
$DB APR.17 PUT 35 flow at 0.9-0.95.. someone knows something that we dont?? http://t.co/hagMF2cmVP
StockNewsWires
24 Mar 15 10:40:03
$DB: Morning Movers to Watch - Deutsche Bank (DB), Yahoo! (YHOO), JD ...: http://t.co/fKyrmUlXHb
Market Int Center
24 Mar 15 10:33:20
Deutsche Bank $DB Showing Resistance Near $35.08 ( http://t.co/qnnXW2Z3Rc )
Shas Fuentecilla
24 Mar 15 10:25:36
RT @DeutscheBank: #DavidBianco, $DB Chief US Equity Strategist, about #US economic recovery and #interestrates http://t.co/YDSoY6qtb7 @Squa…
Deutsche Bank
24 Mar 15 09:49:23
#DavidBianco, $DB Chief US Equity Strategist, about #US economic recovery and #interestrates http://t.co/YDSoY6qtb7 @SquawkCBNC
TheDayTradingAcademy
24 Mar 15 09:00:53
$DB up 2% today,up over 16% since original recommendation made on 2/11/15.Closing in on medium term target of $36.91 http://t.co/GhV658T485
taitamcapital
24 Mar 15 08:51:57
.@cnbc powerful rotation out of $SPY into $HEDJ, $DXJ in past 6 mths; but impt new breakouts above 200day ma: $EWA, $DB this week; go global
Deutsche Bank
24 Mar 15 08:47:50
David Bianco, $DB Chief US Equity Strategist, discusses US economic recovery and interest rates on @SquawkCBNC http://t.co/1dRr0yS4sX
Maglan Capital
24 Mar 15 08:05:12
$DB $CS and $UBS each a shadow of their old selves http://t.co/zv4lhiynon
Sunrise Trader
24 Mar 15 07:58:27
$GS back above yesterday close $DB looking good see if financials want to make a go here using as market tell no position
TraderMinute
24 Mar 15 07:44:40
$DB this has a history of jumping big for 3 days, then pullback or consolidation, if you're in maybe trim http://t.co/PWQJT2usC6
				
				
By  +Follow September 19, 2013 2:02PM
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