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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
abe-invest, St. Abe
22 Nov 14 14:37:16
RT @TylerSoliday: Morgan Stanley, Citigroup Inc., Deutsche Bank AG and JPMorgan Chase & Co. are managing Alibaba’s... http://t.co/euzjHBmjr…
sonyvalentine
21 Nov 14 12:01:22
JPMorgan, Deutsche Bank, Morgan Stanley and Jefferies like Sony who else is joining the bullet train ? $JPM $DB $MS $SNE... $BAC $GS?
Mike Zaccardi, CMT
21 Nov 14 10:51:23
I'm really looking forward to my new gig. Going from operations at $DB to trading $NG_F and electricity/transmission at a great firm
Stock Pandit
21 Nov 14 10:41:59
lot of buys at $4.5 range for $MOLG. Deutsche Bank $DB set BUY rating & $12 price target yesterday. http://t.co/HGssjbopmD
NASDAQ
21 Nov 14 10:04:05
$DB - RBS Made Error in Stress-Test Calculation -- 2nd Update http://t.co/VgONDJnTbC
NASDAQ
21 Nov 14 09:43:07
$DB - RBS Made Error in Stress-Test Calculation -- Update http://t.co/Tg5yma7tsB
NASDAQ
21 Nov 14 09:19:01
$DB - Report of Foreign Issuer (6-k) http://t.co/58RezeuTF6
Trefis.com
21 Nov 14 08:59:07
Financials Weekly Notes: Citigroup, Deutsche Bank and RBS http://t.co/tHkyUDkRBo by Trefis Team $DB $RBS $C
Fish4Bucks
21 Nov 14 08:06:30
60m $DB Upper Trendline Pressure 31.030 #futures #stocks 11:06:19 AM http://t.co/lSMcM5bjRW Signals based o... http://t.co/lSMcM5bjRW
Fish4Bucks
21 Nov 14 06:56:56
60m $DB Upper Trendline Pressure 31.020 #futures #stocks 09:56:46 AM http://t.co/lSMcM5bjRW Signals based o... http://t.co/lSMcM5bjRW
TV_Trading Ideas
21 Nov 14 06:55:05
Did German locomotive stopped? $DB http://t.co/OjlQm0xBZt
Lawrence Delevingne
21 Nov 14 06:14:07
$DB Securities CEO is rebuilding his Benefit Street Partners credit business far from Wall St http://t.co/uUPnoE9Ip1 via @julie_segal
NASDAQ
21 Nov 14 05:24:10
$DB - Deutsche Bank Partners with the Global Alliance for Clean Cookstoves to Mobilize USD 100 Million in New http://t.co/B4YMewyGxY
MarketGlance
21 Nov 14 03:54:21
Citigroup Said to Be Ousted From ECB FX Group for Rigging - Bloomberg - http://t.co/slDyXjM20Q $C $DB
Michael Dabreo
21 Nov 14 03:39:54
RT @DeutscheBank: MT @DBAmericas: $DB #DavidBianco – Factors preventing double-digit returns in the current environment http://t.co/m595JPN…
Andreas Cseh
21 Nov 14 03:23:03
#Draghi 's Nonsense: #Deutsche Bank's share price perfectly reflects the #European Mess $DB - #Correction is Looming http://t.co/DTlg0ZzGVh
NASDAQ
21 Nov 14 03:08:44
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/m5CBSsGQ1n
NASDAQ
21 Nov 14 03:08:42
$DB - Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) http://t.co/qX2Fjl5oay
Fish4Bucks
21 Nov 14 03:06:23
60m $DB 30.620 Price action Crossing up Median Resistance #stocks Signals based on the Fish4Bot indicator Pl... http://t.co/lSMcM5bjRW
Fer  Basilico
21 Nov 14 01:33:00
RT @DeutscheBank: MT @DBAmericas: $DB #DavidBianco – Factors preventing double-digit returns in the current environment http://t.co/m595JPN…
Deutsche Bank
21 Nov 14 01:29:00
MT @DBAmericas: $DB #DavidBianco – Factors preventing double-digit returns in the current environment http://t.co/m595JPNgg3 @BloombergTV
D
21 Nov 14 00:34:16
More intrigued with $DB as a long position.
Ivy Sterling MBA CFA
20 Nov 14 20:36:37
Corporate sponsors unite @CFA! $CS $UBS $BAC $LAZ $PNC $PUK $EVR $JPM $GS $WFC $DB $AB $MBI $FMER $BBT $BLK $BNY $SPWR #JoinCFA #AddCFA
RickLejeune
20 Nov 14 18:50:32
Head of European economic bloc facing calls to resign over ‘magical f http://t.co/qq2Vt7GQvJ $PEP $FDX $DB #Stocks #mkt
Ivy Sterling MBA CFA
20 Nov 14 17:14:55
#CorruptFinancialAnalyst Meeting is Dec 6 #WaldorfAstoria #NewYork. To join #CFA, simply add "CFA" after your name . $WFC $DB $BLK $BX $UBS
NASDAQ
20 Nov 14 16:51:10
$DB - Alibaba Becomes Wall Street's Favorite Customer -- 3rd Update http://t.co/vKHdbF98Y7
Hedge AccordingLy
20 Nov 14 15:41:21
UK Challenge To EU Cap On Bankers’ Bonuses Dealt Huge Blow | $CS $DB $BCS | http://t.co/Ero0BXf6e2
Oksana Poltavets
20 Nov 14 15:24:51
RT @DBAmericas: $DB David Bianco discussed factors preventing double-digit returns in the current environment on @BloombergTV http://t.co/C…
Deutsche Bank
20 Nov 14 13:46:58
$DB David Bianco discussed factors preventing double-digit returns in the current environment on @BloombergTV http://t.co/CYeZPhgdNu
Dividend Master
20 Nov 14 11:45:10
$IRT volume over 6mm ...keep in mind its a 6mm secondary + 900k greenshoe . $DB is getting the deal done
NASDAQ
20 Nov 14 11:14:01
$DB - Deutsche Bank Wins Global Cash Management Mandate from JetSmarter http://t.co/ME8QdqhUms
Marco
20 Nov 14 10:37:38
$NUAN call options active into Q4. $DB reiterating buy at $25 PT.
NASDAQ
20 Nov 14 10:35:02
$DB - Goldman Faces Senate Grilling on Aluminum Deals http://t.co/6d9fJyXdD4
Dividend Master
20 Nov 14 09:59:56
almost 5mm shares of $IRT have traded ... $DB is making the sausage .....
Adam
20 Nov 14 09:48:21
RT @WallStJesus: $DB appears player closes 2820 Dec14 32 calls .23 & adds some wood to roll em out to 3760 Apr15 32 calls $1.39
TylerSoliday
20 Nov 14 09:20:34
Morgan Stanley, Citigroup Inc., Deutsche Bank AG and JPMorgan Chase & Co. are managing Alibaba’s... http://t.co/euzjHBmjrx $BABA $MS $DB
Anthony
20 Nov 14 08:56:35
RT @WallStJesus: $DB appears player closes 2820 Dec14 32 calls .23 & adds some wood to roll em out to 3760 Apr15 32 calls $1.39
NASDAQ
20 Nov 14 08:30:16
$DB - Deutsche Bank Appointed as Depositary Bank for the Sponsored Level I American Depositary Receipt Program http://t.co/po3yNLveBs
NASDAQ
20 Nov 14 08:21:03
$DB - Bank of Cyprus Shareholders Approve New Board http://t.co/uuoKzxsr5O
JE$US
20 Nov 14 08:02:12
$DB appears player closes 2820 Dec14 32 calls .23 & adds some wood to roll em out to 3760 Apr15 32 calls $1.39
NASDAQ
20 Nov 14 07:07:03
$DB - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/XbXrHg6vja
Fish4Bucks
20 Nov 14 06:54:21
60m $DB 30.080 Price action Crossing Down Median Support #stocks Signals based on the Fish4Bot indicator Ple... http://t.co/lSMcM5bjRW
RickLejeune
20 Nov 14 04:16:48
Head of European economic bloc facing calls to resign over ‘magical fairyland’ t http://t.co/qq2Vt7GQvJ $PEP $FDX $DB #investing
Deutsche Bank
19 Nov 14 15:15:17
RT @DBAmericas: $DB’s @TalkGTB proudly named as a Quality Leader for US Trade Finance services in @GreenwichAssoc #GreenwichLeaders http://…
Deutsche Bank
19 Nov 14 13:19:32
$DB’s @TalkGTB proudly named as a Quality Leader for US Trade Finance services in @GreenwichAssoc #GreenwichLeaders http://t.co/UBT2L828YM
Langan Stocks
19 Nov 14 11:19:39
Lucky Jimmy: DB up +0.56% percent Today $DB High is at 30.90 http://t.co/QWx0S9RfHi
Lucky Jimmy
19 Nov 14 11:18:58
DB up +0.56% percent Today $DB High is at 30.90 and the Low 30.77 with current volume of 355,772. Recent News http://t.co/IxLf4KRtme
Lucky Jimmy
19 Nov 14 11:18:32
$DB DB up +0.56% percent Today $DB High is at 30.90 and the Low 30.77 with current volume of 355,772. Recent News http://t.co/eURwJidvhD
Bret Kenwell
19 Nov 14 08:19:30
Former Bank of England Chief Says Banks May Be Too Big to Manage http://t.co/nTbhQ29j4Z via @TheStreet $JPM $SPY $DIA $TLT $C $DB $GS $XLF
Deutsche Bank
19 Nov 14 08:16:53
RT @DBAmericas: Congratulations $DB Co-Head of Global Prime Finance Barry Bausano for his induction into @globalcustodian Securities Servic…
				
				
By  +Follow September 19, 2013 2:02PM
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