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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
Anthony DePaola
5 Mar 15 06:37:25
$DB upgraded $FOXA, $VIAB, and Hold on $DIS w/ a 105 pt.
ValueWalk
5 Mar 15 06:13:08
Breaking Down The 2015 Fed Stress Test Of Big Banks http://t.co/SduAso5H9u $DB $SAN http://t.co/Z5jTZ53uk4
Ben Silverberg
5 Mar 15 06:11:46
Agree with Deutsche Bank $DB: not buying iWatch hype, $AAPL http://t.co/Hv8ub8UyZP
NASDAQ
5 Mar 15 05:43:02
$DB - Berkshire Hathaway Wooed by Europe's Low Borrowing Costs http://t.co/B7lRi8P1BO
bored2tears
5 Mar 15 04:29:23
Massiveness remains part of the business plan: TBTF #banks aren't ready to shrink. http://t.co/M6rxKCHO3b $BCS $C $DB $HSBC $JPM #finreg
Angela Cullen
5 Mar 15 04:26:52
RT @cr_harper: Here's why Deutsche Bank probably has to cut jobs http://t.co/F7vwLWqvqJ via @nickcomfort @ELogutenkova @business $DB
Zubeyr Kamil Açıksar
5 Mar 15 04:07:41
RT @cr_harper: Here's why Deutsche Bank probably has to cut jobs http://t.co/F7vwLWqvqJ via @nickcomfort @ELogutenkova @business $DB
eFinancialCareers
5 Mar 15 04:05:22
RT @cr_harper: Here's why Deutsche Bank probably has to cut jobs http://t.co/F7vwLWqvqJ via @nickcomfort @ELogutenkova @business $DB
Sarah Butcher
5 Mar 15 04:05:22
RT @cr_harper: Here's why Deutsche Bank probably has to cut jobs http://t.co/F7vwLWqvqJ via @nickcomfort @ELogutenkova @business $DB
eFinancialCareers
5 Mar 15 04:05:22
RT @cr_harper: Here's why Deutsche Bank probably has to cut jobs http://t.co/F7vwLWqvqJ via @nickcomfort @ELogutenkova @business $DB
Christine Harper
5 Mar 15 04:04:21
Here's why Deutsche Bank probably has to cut jobs http://t.co/F7vwLWqvqJ via @nickcomfort @ELogutenkova @business $DB
NASDAQ
5 Mar 15 03:13:07
$DB - Deutsche Bank Committed to Strategy of Global Universal Bank - CEO http://t.co/PfVt1glpyI
TipRanks
5 Mar 15 01:44:30
3-star analyst Dirk Becker from Kepler Capital rated $DB w/a BUY. Dirk has a +11.8% avg rtrn http://t.co/yCUtZxMicL #NYSE #stocks #DB
TRADEaddiction
4 Mar 15 22:01:00
RT @OpenOutcrier: IMF\u2019s Director Batista: Greek bailout was \u201cto save German & French banks\u201d (video) http://t.co/cjUZLDB0fX…
Victor Newman
4 Mar 15 19:33:36
RT @OpenOutcrier: IMF\u2019s Director Batista: Greek bailout was \u201cto save German & French banks\u201d (video) http://t.co/cjUZLDB0fX…
Open Outcrier
4 Mar 15 19:31:56
IMF\u2019s Director Batista: Greek bailout was \u201cto save German & French banks\u201d (video) http://t.co/cjUZLDB0fX $fxe $uup $db
Cristyn Crutchfield
4 Mar 15 13:58:56
RT @KateKellyCNBC: $DB says credit report: avg capex cut among HY E&Ps is 30%, but avg production growth is still 12%. So production is not…
Hedge.Bz
4 Mar 15 12:26:54
Deutsche Bank Hedge Funds Survey: Assets To Pass $3 Trillion This Year $DB | http://t.co/rnkyDDTlek http://t.co/1MlhLroTC4
HLy
4 Mar 15 12:26:53
Deutsche Bank Hedge Funds Survey: Assets To Pass $3 Trillion This Year $DB | http://t.co/sDBoImlMlf http://t.co/jctFEmVbUb
BreakingStocksNews
4 Mar 15 10:51:05
$DB: Deutsche Bank AG Price Target Update: http://t.co/DdDRwcSq4o
Kroll Bond Ratings
4 Mar 15 10:46:25
#KBRA Assigns Final Ratings to COMM 2015-DC1 https://t.co/Nb34dyv2Z1 #CMBS $DB
Kareem Omar
4 Mar 15 09:54:57
@optionmonster what are the best stocks to take advantage of quantitative easing up in Europe? I have $DB $EFA. #AmReCapital @terranovajoe
The Legacy News
4 Mar 15 09:11:08
Deutsche Bank Lowered to “Hold” at Equinet Institutional Services $DB http://t.co/XmHaNTHjEM
SLAY! ™ WanderLust ®
4 Mar 15 09:08:59
RT @BlueFielder: $DB HoD
SLAY! ™ WanderLust ®
4 Mar 15 09:08:56
RT @BlueFielder: Day traders . Eye on $GS here . $DB headed North is the tell .
Cameron
4 Mar 15 09:08:20
$DB HoD
Cameron
4 Mar 15 09:06:18
Day traders . Eye on $GS here . $DB headed North is the tell .
Briefing.com
4 Mar 15 09:04:59
$DB: Deutsche Bank announces it was selected by GT Nexus to management GT's global cash management needs http://t.co/k2FqVNHhnB
Cameron
4 Mar 15 07:52:42
$DB Ugly tail …. is a tell
BLUESPIDER
4 Mar 15 07:05:24
$DB announces it was selected by GT Nexus to management GT's global cash management needs
NASDAQ
4 Mar 15 07:01:58
$DB - GT Nexus Selects Deutsche Bank for Global Cash Management http://t.co/9QyJgpWtKe
ValueWalk
4 Mar 15 06:24:55
Berkshire Hathaway Joins List Of Firms Issuing Eurobonds http://t.co/O7IDVJagvM $BRK.A $BRK.B $GS $WFC $DB $KO $MDLZ $WHR
Media Sentiment
4 Mar 15 06:20:09
$DB received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 158
Octaviano  Tatau
4 Mar 15 06:18:59
RT @DeutscheBank: $DB's Chief Economist Asia #TaimurBaig shares his views on the Indian economy http://t.co/StVYPQkJJn via @ETNOWlive
Octaviano  Tatau
4 Mar 15 06:18:38
RT @DeutscheBank: MT @CDP: $DB #solar report – #battery price breakthrough within 5 years? http://t.co/tGrZg6BYGH #pv @cleantechnica
InterCooler
4 Mar 15 06:18:27
Deutsche Bank Rating Lowered to Hold at Equinet Institutional Services $DB http://t.co/x0khXAkIhx
US Consumer News
4 Mar 15 06:16:17
Deutsche Bank downgraded by Equinet Institutional Services to hold. http://t.co/lXD6ugNBru $DB #DB
Analyst Ratings
4 Mar 15 06:16:14
Deutsche Bank downgraded by Equinet Institutional Services to hold. http://t.co/iaDL5EPWDO $DB #DB
Howard H. Lee
4 Mar 15 06:05:36
$VEEV some view as narrower-scoped #HigherBeta version of $CRM getting crushed premarket. $DB downgrade? Note wedging up since January?#CNBC
Matti Paananen
4 Mar 15 04:35:57
RT @DeutscheBank: MT @CDP: $DB #solar report – #battery price breakthrough within 5 years? http://t.co/tGrZg6BYGH #pv @cleantechnica
Mario Cervellione
4 Mar 15 04:33:35
RT @DeutscheBank: MT @CDP: $DB #solar report – #battery price breakthrough within 5 years? http://t.co/tGrZg6BYGH #pv @cleantechnica
B. D. Foxworth
4 Mar 15 04:30:39
$BAC $JPM $GS $DB $WFC $MS $C $RBS $AIG $BCS $UBS $HSBC $QQQ $SPY $SPX $AAPL $FB $GOOG #Sell #Garbage $LNKD #buy $BABA #Options #Stocks ✊💪
Kristin
4 Mar 15 04:26:54
$AMBA shares remain fully valued, says $DB. PT raised to $64 from $50.
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4 Mar 15 04:26:02
MT @CDP: $DB #solar report – #battery price breakthrough within 5 years? http://t.co/tGrZg6BYGH #pv @cleantechnica
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4 Mar 15 03:10:15
$DB - Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) http://t.co/OgK5RXqzbB
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$DB - Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) http://t.co/EOsBYPR3cr
Richard benson
4 Mar 15 02:33:25
RT @Bidnessetc: Deutsche Bank AG Co-CEO Faces Trial - http://t.co/nvQNMaWv9X $DB http://t.co/ADHRHwfTx1
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4 Mar 15 01:51:07
Deutsche Bank AG Co-CEO Faces Trial - http://t.co/nvQNMaWv9X $DB http://t.co/ADHRHwfTx1
Grigore Macovei
3 Mar 15 22:58:46
RT @DeutscheBank: $DB's Chief Economist Asia #TaimurBaig shares his views on the Indian economy http://t.co/StVYPQkJJn via @ETNOWlive
FreeCredit-Report
3 Mar 15 22:50:23
RT @KateKellyCNBC: $DB says credit report: avg capex cut among HY E&Ps is 30%, but avg production growth is still 12%. So production is not…
				
				
By  +Follow September 19, 2013 2:02PM
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