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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
Investors Hangout
29 Aug 14 09:53:46
$KGC Day High http://t.co/jOGevftWSD Also See: $DB $DGLY $MCD $GMCR ~
Investors Hangout
29 Aug 14 09:23:48
$JRJC Exchange http://t.co/kbFtNhNWuh Also See: $EEM $DB $YPF $IYT ~
Stock Updates
29 Aug 14 09:15:22
$DB: Will This Ratings Initiation Help Jarden (JAH) Stock Today? http://t.co/GU53WkpDM3 http://t.co/Ge2UdgHsLN
Deutsche Bank
29 Aug 14 09:08:44
Taimur Baig, #DeutscheBank Chief Economist for Asia, discusses economic recovery in #Thailand on @CNBC $DB http://t.co/GS0uMXNKA1
Zeke
29 Aug 14 08:37:43
RT @Deutsche_News: MT @Cisco: Cisco Announces Upcoming Events with the Financial Community incl. DeutscheBank $DB http://t.co/hMtvMAc3Ap $c…
Deutsche Bank
29 Aug 14 08:15:51
MT @Cisco: Cisco Announces Upcoming Events with the Financial Community incl. DeutscheBank $DB http://t.co/hMtvMAc3Ap $csco
Wall Street Monitor
29 Aug 14 08:15:29
$DB: Today's Top Performers In Financial http://t.co/5MIoYBL22y http://t.co/MFJQ756SNm
Stock Forums
29 Aug 14 07:58:22
$INTC Volume http://t.co/5KBGPFTytm Also See: $URBN $UGAZ $WLT $DB ~
Stock Forums
29 Aug 14 07:40:50
$INCC Current Price Also See: $DB $NFLX $EWG $TD.TO ~
Stockflix
29 Aug 14 04:21:52
A selection of Today's Picks - August 29 - Reverse to Negative: $ICUI, $DB. Visit http://t.co/UTkKrCPZnR to learn more
Evener Investment
29 Aug 14 04:20:39
RT @MarketCurrents: Reporting errors continue to plague Deutsche Bank http://t.co/WijG7iMtlF #premarket $DB
MarketCurrents
29 Aug 14 04:12:59
Reporting errors continue to plague Deutsche Bank http://t.co/WijG7iMtlF #premarket $DB
Biz Headlines
29 Aug 14 03:15:00
$DB: Asset-Backed Bonds Said to Face Tougher SEC Disclosure Rules http://t.co/2aHodVcC1x http://t.co/dQf0M9rYC9
Investors Hangout
29 Aug 14 03:10:12
$EWY Current Price http://t.co/Tuxyrz3oCE Also See: $DB $TIP $WLT $AA ~
PolgarStocks
29 Aug 14 03:01:50
$ERBB Ask Size http://t.co/Mz86opYPY3 Also See: $HYG $XLU $PPH $DB ~
Scott Walters
29 Aug 14 02:42:01
@preaction I'd love to see a CoreWars-like in Perl. Could be done with $DB:: and Coro except for the Standfard vs Harvard architecture deal.
Chasing Stars
29 Aug 14 02:26:59
$DSW Volume http://t.co/oXOp4NIfs9 Also See: $DB $MCD $VZ $XLF ~
PolgarStocks
29 Aug 14 02:01:39
$DRYS Ask Size http://t.co/ltWqfSVN87 Also See: $CSIQ $ISIS $ARWR $DB ~
Investors Hangout
29 Aug 14 02:00:54
$DIS Last Trade http://t.co/ZPSCZziXKE Also See: $CRM $DB $UNH $GDXJ ~
Market News
29 Aug 14 01:14:55
$DB: Tesla Motors Inc. (NASDAQ:TSLA)'s Arouses Concerns Despite Deutsche Bank ... http://t.co/mnLzYbGYie http://t.co/0G896qPRYi
Chasing Stars
29 Aug 14 01:12:14
$DB EOD Data http://t.co/j6Pzu7X6yg Also See: $IBB $UGAZ $JAZZ $HD ~
Investors Hangout
29 Aug 14 01:08:35
$DB Ask Size http://t.co/NOKMLdGnaU Also See: $THC $SIRI $YRCW $TCN.TO ~
Stock Forums
29 Aug 14 01:06:46
$DB Exchange http://t.co/Y5mCDcZLL3 Also See: $MU $VIPS $BIDU $BBY ~
Rosner Stocks
29 Aug 14 01:01:21
$DB EOD Data http://t.co/sZjbJHuynR Also See: $T $F $KO $WMT ~
PolgarStocks
29 Aug 14 00:54:11
$DB E.P.S. http://t.co/NPaBmsnbtY Also See: $MYEC $INCC $FSLR $LUV ~
Stock Forums
29 Aug 14 00:50:35
$CVX Filings http://t.co/sx2AAeRcXv Also See: $FXI $DB $GPRO $AXP ~
Investors Hangout
29 Aug 14 00:50:30
$DB 52Wk High http://t.co/wLL8pjJDcX Also See: $XOM $CTIC $TZA $FITX ~
Companies in News
29 Aug 14 00:15:00
$DB: Will This Ratings Initiation Help Jarden (JAH) Stock Today? http://t.co/1zsK8ZqEJv http://t.co/g9cYyz6rfC
Investors Hangout
29 Aug 14 00:13:29
$CPRX Yield http://t.co/NH7nxIu6ir Also See: $HAL $DB $TZA $WMT ~
PolgarStocks
28 Aug 14 23:20:36
$BTU Quotes http://t.co/NKd0SxSmF7 Also See: $MCD $EPI $DB $XLE ~
Wall Street News
28 Aug 14 23:14:53
$DB: Will This Ratings Initiation Help Jarden (JAH) Stock Today? http://t.co/9y85tzMmKm http://t.co/CZAtXakmFb
Rosner Stocks
28 Aug 14 23:08:40
$BKW E.P.S. http://t.co/DfN36IhWwT Also See: $DB $YGE $AMZN $CVX ~
PolgarStocks
28 Aug 14 21:59:19
$ARWR Ask Size http://t.co/OgzwWpRim5 Also See: $DB $SIRI $ISIS $EBAY ~
PolgarStocks
28 Aug 14 21:32:13
$AMZN Quotes http://t.co/Qz2e0YheqV Also See: $BTU $CSCO $FNMA $DB ~
Stock Forums
28 Aug 14 21:19:48
$AGG Current Price http://t.co/8VnIAwu4FT Also See: $JAZZ $XLV $WMT $DB ~
Investors Hangout
28 Aug 14 17:55:47
$ATHM Tick http://t.co/YmuPo77s1x Also See: $TBT $DB $FCX $SLV ~
Stock Updates
28 Aug 14 17:15:15
$DB: European stocks continue Draghi-fueled rally http://t.co/iPrX8QEaIm http://t.co/URtPZD06Zs
Investors Hangout
28 Aug 14 17:08:01
$ALXN News http://t.co/AH7mcjnL3W Also See: $GOOG $HAL $DB $AA ~
Profesor Antonio
28 Aug 14 16:36:26
@_Calaveria Por ultimo, $db->affected_rows te dira el numero de registros afectados despues comparar con el array, deben ser longuitud igual
Profesor Antonio
28 Aug 14 16:33:21
@_Calaveria $db->query, te va a retornar true, si la sintaxis del SQL estaba bien.
Investors Hangout
28 Aug 14 16:02:37
$YGE Tick http://t.co/NRAPd9zXMo Also See: $DB $INCC $CRM $XIV ~
Market Newswire
28 Aug 14 15:17:50
Deutsche Bank Unit Buys 222 Broadway Stake in NYC - August 28, 2014 - http://t.co/r8kycHiAZJ $DB #markets #invest #news
Investors Hangout
28 Aug 14 14:44:14
$XLI Quotes http://t.co/h1JnfpHoIl Also See: $UUP $C $XLY $DB ~
stockassassin
28 Aug 14 12:33:25
RT @markflowchatter: $REGN $DB raising price tgt to new street high of $425.
Interactive Brokers
28 Aug 14 10:40:32
#IBTI Technical Analysis - Waverly Advisors Update http://t.co/SJYB2VT78f $ZMH $JOY $JPM $KORS $LULU $MA $DB $EJ $FTNT $GOGO
Evener Investment
28 Aug 14 10:17:06
RT @MarketCurrents: Vanguard launches new volley in European fund price war http://t.co/bWNDfwRDeA $BLK $DB
Stock Updates
28 Aug 14 10:15:03
$DB: Deutsche Asset & Wealth Management Acquires 222 Broadway in New York City http://t.co/KjiLzAy4rH http://t.co/6qXQf03yLk
MarketCurrents
28 Aug 14 10:14:31
Vanguard launches new volley in European fund price war http://t.co/bWNDfwRDeA $BLK $DB
Market Newswire
28 Aug 14 10:01:43
Why Deutsche Bank (DB) Stock Is Lower Today - http://t.co/m2XroCb2oG $DB #markets #finance #newsfeed
TheStreet Alerts
28 Aug 14 09:29:18
Why Deutsche Bank $DB Stock Is Lower Today http://t.co/a6UKAxcSQW
				
				
By  +Follow September 19, 2013 2:02PM
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