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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
22 Sep 14 10:49:02
$DB - Deutsche Bank Strengthens Trade Finance and Cash Management for Corporates Group in Latin America http://t.co/PybbDOqvHq
Loud Apple
22 Sep 14 10:35:31
$BAC $DB not all bad in a strongly negative tape
NASDAQ
22 Sep 14 10:28:06
$DB - Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) http://t.co/pGe71kPH1e
NASDAQ
22 Sep 14 10:25:25
$DB - Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) http://t.co/QK125PREbw
Stock Moo
22 Sep 14 09:44:12
$db: Deutsche Bank Recognized on American Banker’s “Women to Watch in Banking” List http://t.co/fHAfmZGuhB
Axios
22 Sep 14 09:32:12
Now Murphy is pitching $DB on Fast Money. wow
NASDAQ
22 Sep 14 08:59:02
$DB - Deutsche Bank Recognized on American Banker’s “Women to Watch in Banking” List http://t.co/3GSocTQwxU
Thudder & Wicks
22 Sep 14 08:22:00
$DB Deutsche Bank fires rogue forex trader http://t.co/RwhZa1FJN3
John Michael
22 Sep 14 08:21:34
RT @SeekingAlpha: How Would The ETF Market Price War Impact Deutsche Bank? http://t.co/9yeOq4lo5K $BLK $STT $LYXMF $DB
Craig Garbers
22 Sep 14 08:19:11
RT @SeekingAlpha: How Would The ETF Market Price War Impact Deutsche Bank? http://t.co/9yeOq4lo5K $BLK $STT $LYXMF $DB
Alysia Sarkisian
22 Sep 14 08:17:47
RT @SeekingAlpha: How Would The ETF Market Price War Impact Deutsche Bank? http://t.co/9yeOq4lo5K $BLK $STT $LYXMF $DB
Seeking Alpha
22 Sep 14 08:15:29
How Would The ETF Market Price War Impact Deutsche Bank? http://t.co/9yeOq4lo5K $BLK $STT $LYXMF $DB
Wes Andrews
22 Sep 14 08:14:18
#ALIBABA: Success Over Hyped?—given Big Bank stakes $CS $MS $GS $JPM $DB & #China faltering growth. @TheStreet @WSJ—http://t.co/gAnnSU8Gaw
Market Int Center
22 Sep 14 08:10:01
Potential Deutsche Bank $DB Trade Has 5.42% Downside Protection ( http://t.co/7Avgbk7YNe )
NASDAQ
22 Sep 14 08:07:10
$DB - Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) http://t.co/vQwnWuZXch
Cameron
22 Sep 14 07:43:15
$DB hinting at further DOWN
Ben
22 Sep 14 06:53:05
Banks continuing relative strength in weak tape, $DB $ZION $BAC
Marshut
22 Sep 14 06:42:08
#External #Framework #Missing https://t.co/dkKNtEZXro $db->exec() with an external .sql file
Fish4Bucks
22 Sep 14 06:29:13
60m $DB Upper Trendline Pressure 36.280 #futures #stocks 09:29:01 AM http://t.co/WZwETG8am0 Signals based o... http://t.co/WZwETG8am0
Al Sabogal
22 Sep 14 05:44:51
.@businessinsider Insures headline grabbing initiations coming from the banks as soon as they're allowed to $C, $CS, $DB, $GS, $JPM, $MS
Deutsche Bank
22 Sep 14 02:55:12
$DB Global Strategist Sanjeev Sanyal predicts a shift in India's growth model to an East Asian model on @cnbctv18: http://t.co/fjtHeRS74c
Richard benson
21 Sep 14 23:11:03
RT @Bidnessetc: Banks usually do not get much in underwriting fees, even if it is the biggest IPO in US history http://t.co/HwvD0Fga1k $BAB…
CashRocket
21 Sep 14 16:54:42
Deutsche Bank AG: Considerable Upside Potential http://t.co/dkS3cuRnZX $DB recent large call action in the name along w/ other Euro-banks.
Investors Hangout
21 Sep 14 10:03:31
Jake13: $DB Buy or Sell Opinion Click here to find out if http://t.co/7qihIY8HtY
Investors Hangout
21 Sep 14 10:03:29
Jake13: $DB Buy or Sell Opinion Click here to find out if http://t.co/56zeMPHTrc
Investors Hangout
21 Sep 14 09:59:14
danrocks: $FCX Picking Up MOMO $IMSC $DB $JE $EFA $BERY http://t.co/8sO0wAqQyK
Investors Hangout
21 Sep 14 09:59:13
danrocks: $FCX Picking Up MOMO $IMSC $DB $JE $EFA $BERY http://t.co/VEOOccCsSK
Investors Hangout
21 Sep 14 09:59:06
danrocks: $MCP Getting Interesting $NLY $PSRU $AMD $DB http://t.co/WK2Lgscd21
Investors Hangout
21 Sep 14 09:59:06
danrocks: $MCP Getting Interesting $NLY $PSRU $AMD $DB http://t.co/8l29kXQ5lx
danrocks
21 Sep 14 09:53:11
$FCX Picking Up MOMO $IMSC $DB $JE $EFA $BERY http://t.co/CV3ZzwSxBs
Jake13
21 Sep 14 09:49:13
$DB Buy or Sell Opinion Click here to find out if $DB is a buy hold or sell. Watching these stocks. $XSP.TO $T http://t.co/QiLsBewxUz
Investors Hangout
21 Sep 14 09:49:08
DennyT: PLUG Market Watch $PLUG $DB $TLT $USO $DIA http://t.co/UaaQFns5IA
Investors Hangout
21 Sep 14 09:49:07
DennyT: PLUG Market Watch $PLUG $DB $TLT $USO $DIA http://t.co/WSmbziKAgN
danrocks
21 Sep 14 09:41:32
$MCP Getting Interesting $NLY $PSRU $AMD $DB $AMGN http://t.co/zwL8qIUbWq
DennyT
21 Sep 14 09:38:22
PLUG Market Watch $PLUG $DB $TLT $USO $DIA Opinion,50 Simple Moving Average,Open,Company News,Picking Up MOMO http://t.co/yP2vswyIuF
lookn4wins
21 Sep 14 09:09:38
$IYR 200 Simple Moving Average $IYR Most recent stock chart and technical analysis. $DRIO $EEM $XLV $DB $CNTF http://t.co/3aL5vQtpZG
Torben Kaaber
21 Sep 14 08:47:08
RT @SeekingAlpha: Deutsche Bank AG: Considerable Upside Potential http://t.co/utjMBhFcCh $DB
awolam
21 Sep 14 08:16:43
RT @SeekingAlpha: Deutsche Bank AG: Considerable Upside Potential http://t.co/utjMBhFcCh $DB
gordon gekko is god
21 Sep 14 08:14:34
Deutsche Bank AG: Considerable Upside Potential http://t.co/z4PNFFnsGW $DB
Seeking Alpha
21 Sep 14 08:09:51
Deutsche Bank AG: Considerable Upside Potential http://t.co/utjMBhFcCh $DB
Aaron I. Ying
21 Sep 14 07:48:31
$EURUSD <1.3030sell @ $XAUUSD <1292sell @ $AAPL >90$buy @ $FB >60$buy @ $USDCAD >1.09499buy @ $AUDJPY >97.12buy @ $DB >25.61€sell #forex
Aaron I. Ying
21 Sep 14 07:48:21
#forex $EURUSD <1.3030sell @ $XAUUSD <1292sell @ $AAPL >90$buy @ $FB >60$buy @ $USDCAD >1.09499buy @ $AUDJPY >97.12buy @ $DB >25.61€sell
Aaron I. Ying
21 Sep 14 07:31:21
#forex $EURUSD <1.3030sell @ $XAUUSD <1292sell @ $AAPL >90$buy @ $FB >60$buy @ $USDCAD >1.09499buy @ $AUDJPY >97.12buy @ $DB >25.61€sell
Investors Hangout
21 Sep 14 07:30:29
Jake13: $DB Buy? Click here to find out if $DB is a buy http://t.co/A4DcKxpslc
Sonic-Trader
21 Sep 14 07:30:27
RT @WallStJesus: $DB worth noting, another bank that saw #WG place hefty bets on this month .. http://t.co/Y2cWqKvNXq
Investors Hangout
21 Sep 14 07:30:11
Jake13: $DB Buy? Click here to find out if $DB is a buy http://t.co/8Z90AOTram
Jake13
21 Sep 14 07:28:11
$DB Buy? Click here to find out if $DB is a buy hold or sell. Watching these stocks. $XLK $COH $DAL $RFMD http http://t.co/EhEzMn2NVk
Aaron I. Ying
21 Sep 14 07:23:28
$DB (frankfurt, xetra) maybe with a great midd-term technical turnaround, after 2 years lows - MayBe http://t.co/Q1c7VAHQfk
Aaron I. Ying
21 Sep 14 07:18:55
$EURUSD <1.3030sell @ $XAUUSD <1292sell @ $AAPL >90$buy @ $FB >60$buy @ $USDCAD >1.09499buy @ $AUDJPY >97.12buy @ $DB >25.61€sell #forex
   $TOCK$
21 Sep 14 05:56:00
Daily Short Squeezies $GSAT $PII $INO $HZO $DLB $TFX $WTS $FAF $DB $ANW $KNX $VGR $ORB $TPLM $DECK $XPO $TNK
				
				
By  +Follow September 19, 2013 2:02PM
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