logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

 


Wall Street Blasts Off as Congress Finally Produces Debt-Ceiling Deal

By  +Follow October 16, 2013 4:31PM
Share:
Tickers Mentioned:

Stocks roared to life on Wednesday, as Senate Majority and Minority leaders Harry Reid and Mitch McConnell officially announced an agreement to end a half-month old government shutdown and raise the US debt ceiling through the remainder of 2013.

After what seemed like an eternity of increasingly shrill politicking in Washington, D.C. that at times seemed to make brave forays into absurdism, House Republicans relented on their demands for the defunding of President Obama’s signature 2010 Patient Protection and Affordable Care Act in exchange for keeping the government open and allowing the nation to pay its bills.

Markets reacted with overt jubilation, despite the fact that Wednesday’s arrangement does not so much provide a solution that would prevent a repeat of this most recent political calamity, as much as it would simply postpone it until the beginning of next year. Indeed, the deal keeps the government funded through early January, and raises the debt limit until early February, which could leave Americans facing a nearly identical situation right after the holidays.

By the closing bell, the Standard & Poor’s 500 index had added 1.38 percent, climbing to 1,721.51 points, while the Dow Jones Industrial Average rose 1.36 percent to 15,373.77, and the NASDAQ gained 1.20 percent to a tally of 3,839.43.

The deal in Washington also sent oil prices higher, the biggest beneficiaries of which were independent drillers and producers. On the S&P, Pioneer Natural Resources ($PXD) was one of the top performers, closing 5.5 percent higher, with Chesapeake Energy ($CHK) in tow.

Financial stocks topped the Dow, with JPMorgan Chase (JPM) and Goldman Sachs (GS) both adding over three percent ahead of the close, despite the fact that a US Magistrate judge has ordered the company to hand over complaints it is alleged to have received on the part of some of the bank’s female employees who feel as though they had been discriminated against during their tenures.

The NASDAQ was helped by healthcare stocks, with Keryx Biopharmaceuticals (KERX) jumping almost 20 percent on news of an upgrade from Roth Capital, while Geron Corporation (GERN) was 40 percent higher by the closing bell after its stock was also upgraded. Meanwhile, Solar City (SCTY) was also among the exchange’s best performance, finish 12 percent higher after announcing the acquisition of rival Zep Solar.

Twitter made official its intent to be listed on the New York Stock Exchange in filings with the Securities and Exchange Commission late on Tuesday. The social media giant has gone to great lengths to hold its IPO as differently as possible from other techs, who usually list on the NASDAQ.

 

[Image Courtesy of Wikimedia Commons]

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. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for PXD
FinSentS SP500
2 Jun 15 15:30:32
$PXD:US Baupost Group Is Long Pioneer Natural Resources #PIONEER NATURAL RESOURCES CO http://t.co/WlY5IYBmnm #SP500
Stockaholics
2 Jun 15 15:12:51
Our Penny Stock Pick On $THCZ Is Up 570.77% For Platinum Members! Big Update: http://t.co/Zk4TMfk9nf $JNPR $PXD $NVE
Stock Rocket
2 Jun 15 15:10:47
Our Stock Alerts Gained Over 1300% In Less Than 3 Months! See Our New Picks: http://t.co/keLIhbbQwg $JNPR $PXD $NVE
Stock Dawgzz
2 Jun 15 15:03:52
We Have Huge New Penny Stock Picks Coming! Become A Platinum Member To Get Them Early: http://t.co/3q6F8Dy1Ar $JNPR $PXD $NVE
Penny Stockington
2 Jun 15 15:02:01
Our Penny Stock Alerts Gained Over 3400% For Subscribers In 7 Months! See Our New Picks: http://t.co/nLJyVUosJ4 $JNPR $PXD $NVE
dailystockplays.com
2 Jun 15 14:40:09
Stochastic Buy http://t.co/4lSUAgUi7u $PXD $BCEI $RAX $XME $TEX $OIH $EQT $FSLR $RDC $FLR $ERX $SPWR $BHP $EWY $KMI $SLM $VALE.P $EWZ
James Good
2 Jun 15 14:23:35
$PXD, $RDC, $WPX, $GGAL, $FSLR, $OHRP, $MOMO, $ATVI, HPQ$, $UEC, $F, $HRTX ~Looks so good, wait... Don't It's A Trap! http://t.co/1tpm1cGLBE
WallStreetConsensus
2 Jun 15 13:22:46
Initiations 6/2: $VICL, $WLL, $NFX, $PXD, $BOJA, $CXO, $WPX, $RRC, $APA, $COHR, $APC, $TTMI, $AR, $DVN, $XEC, $BRG http://t.co/3f1JwUzTpX
Analyst Actions
2 Jun 15 12:35:03
$PXD: Analyst action by Evercore Partners on Pioneer Natural Resources: http://t.co/wfluY6SIzc http://t.co/PEgsRKmnrJ
James Good
2 Jun 15 12:09:15
$RDC $PXD $FSLR $SID $MOMO $ATVI $GGAL $WPX $CLF Strange scans today with all Bull patters in the Red and all the Bear patterns in the Green
Jordan Thurow
2 Jun 15 12:04:28
Lots of good risk reward trades in oil right now. $PXD $EOG $APC $XLE
US Banking News
2 Jun 15 11:53:35
Pioneer Natural Resources Given a $190.00 Price Target at Stifel Nicolaus $PXD http://t.co/xJ94hpLGQr
Ticker Report
2 Jun 15 11:26:54
Pioneer Natural Resources Given a $190.00 Price Target at Stifel Nicolaus $PXD http://t.co/qrYoNm3kqj
WKRB News
2 Jun 15 11:26:33
Pioneer Natural Resources Given a $190.00 Price Target at Stifel Nicolaus $PXD http://t.co/jxVz5FQiOX
ProVesting
2 Jun 15 11:23:07
$PXD: Pioneer Natural Resources Given a $190.00 Price Target at Stifel ...: http://t.co/fD6WGVmRcZ
MICHAEL FILLOON
2 Jun 15 11:21:16
$PXD given $190.00 PT by Stifel Nicolaus. buy rating. http://t.co/UKM4vRPCNl #PXD via @RatingsNetwork http://t.co/wQxRXd7fof #oil #energy
MICHAEL FILLOON
2 Jun 15 11:20:49
$PXD initiated by Evercore Partners. at buy. $190 PT. http://t.co/hyAUeDicMn #PXD via @RatingsNetwork http://t.co/wQxRXd7fof #oil #energy
TipRanks Live Feed
2 Jun 15 11:19:09
0-star analyst Daniel Guffey from Stifel Nicolaus maintained a BUY on $PXD. Daniel has a 36% success rate http://t.co/xrxLX5V6YX #NYSE
FirstToMarkets
2 Jun 15 11:15:29
Pioneer Natural Resources Set Price Target by Stifel Nicolaus (Ranked 41st) to Buy with 190 PT $PXD #PXD http://t.co/d1tqrvZI1A
US Consumer News
2 Jun 15 11:13:36
Pioneer Natural Resources given $190.00 PT by Stifel Nicolaus. buy rating. http://t.co/2ObMJ725gg $PXD #PXD
MarketBeatCom
2 Jun 15 11:08:19
Pioneer Natural Resources given $190.00 PT by Stifel Nicolaus. buy rating. http://t.co/Af9fAIB6S1 $PXD #PXD
Stock Trade Alerts
2 Jun 15 10:59:39
Price Action Alert $PXD - PIONEER NATURAL RESOURCES #stocks #intraday ~ via #AlertTrade
FlashRatingsHOT
2 Jun 15 10:21:15
$PXD has 5 analyst ratings in the last 7 days. Median target: $182.5 (19% upside). View here: https://t.co/tCO0dCm1ar
Jay Siegel
2 Jun 15 10:19:44
EFS Midstrm, jointly owned by Reliance & $PXD ( #Einhorn's shale E&P short idea), bought by $EPD for $2.5B http://t.co/XfUyFAd6xN
NCSU Trader
2 Jun 15 10:13:01
bot $PXD calls
$Stocknewsalerts
2 Jun 15 10:09:36
$PXD Pioneer Natural Resources Announces Second Quarter 2015 Earnings Press Release Date and Conference Call From our Stock News Alerts App
StockNewsWires
2 Jun 15 09:38:07
$PXD: Pioneer Natural Resources Company: Pioneer Natural Resources ...: http://t.co/quyIo9g3gR
Alexander Morris
2 Jun 15 09:37:09
$PXD: 1mRunaway+:1 [+3%,.2%offHi], News, 15:5Accel+, tf:0111111; TLM:2.0; ILM:1.5, Gap+[+0.4%], DyVol:1.15M:0.7x:0.5x, DyRng:4%:2.6x:1.9x,
Breaking News Now
2 Jun 15 09:33:05
$PXD: Pioneer Natural Resources Announces Second Quarter 2015 ...: http://t.co/66QMDXckDo
MyAllies Trading
2 Jun 15 09:32:11
$PXD Pioneer Natural Resources Announces Second Quarter 2015 Earnings Press Release Date and Conference Call http://t.co/X1p7etZpLC
Estimize
2 Jun 15 09:31:54
@TrembFredrick The WS consensus for $PXD Q2 2015 has shifted significantly downwards - http://t.co/BD4lFd3Pa4
wsnewspublishers
2 Jun 15 09:31:08
Volume Active Stocks News Alert: http://t.co/EotkdN12Om $EGY $PXD $CHRW $WBA
Jack Damn
2 Jun 15 09:09:18
Markets @ Midday: Oil & Gas names seeing some buying today. $PXD & $NOV leading the way. $XLE http://t.co/txEt8mx9KS
apppro
2 Jun 15 08:37:28
It's really time to squeeze Einhorn OUT of the #oil biz. he should stick to non commodities! $PXD $EOG $XOP $CRZO $WLL $CXO $XLE $CLR
Analyst Actions
2 Jun 15 08:14:01
$PXD: Analyst action by Evercore Partners on Pioneer Natural Resources: http://t.co/wfluY6B7HE http://t.co/UL3ud00Cbz
US Banking News
2 Jun 15 08:08:48
Pioneer Natural Resources Coverage Initiated by Analysts at Evercore Partners Inc. $PXD http://t.co/TZ418tJGGe
stockschamp
2 Jun 15 08:07:07
Don't Wait Untill 2016 To Realize This POWERFUL Stock Alert Service! $240,000 GAINS! http://t.co/8WvnrVmkBS .. $JNPR $PXD $NVE
WKRB News
2 Jun 15 07:57:38
Pioneer Natural Resources Stock Rating Upgraded by Topeka Capital Markets $PXD http://t.co/SUE7p20GbT
Sleek Money
2 Jun 15 07:50:41
Evercore Partners Inc. Initiates Coverage on Pioneer Natural Resources $PXD http://t.co/AabitlODlZ
FirstToMarkets
2 Jun 15 07:45:25
Pioneer Natural Resources Initiated Coverage by Evercore (Ranked 7th) to Buy with 190 PT $PXD #PXD http://t.co/LieUCole80
Ticker Report
2 Jun 15 07:41:35
Evercore Partners Inc. Initiates Coverage on Pioneer Natural Resources $PXD http://t.co/1MmzmEpbNG
King of investments
2 Jun 15 07:41:03
Pioneer Natural Resources: 4 Reasons Why I Like The EFS Midstream Deal http://t.co/0ZanCQ6eXo $PXD, $EPD
MarketBeatCom
2 Jun 15 07:34:40
Pioneer Natural Resources initiated by Evercore Partners Inc. at buy. $190.00 PT. http://t.co/SwWTgM4f7Y $PXD #PXD
US Consumer News
2 Jun 15 07:34:32
Pioneer Natural Resources initiated by Evercore Partners Inc. at buy. $190.00 PT. http://t.co/h2QLeCOgnd $PXD #PXD
FinSentS SP500
2 Jun 15 07:20:46
$PXD:US Baupost Group Is Long Pioneer Natural Resources #PIONEER NATURAL RESOURCES CO http://t.co/yu3FALpjPR #SP500
StockNewsWires
2 Jun 15 07:15:02
$PXD: Stock Update - Pioneer Natural Resources Company (NYSE:PXD): http://t.co/8M4CSltY9I
ProVesting
2 Jun 15 06:54:03
$PXD: Pioneer Natural Resources: 4 Reasons Why I Like The EFS ...: http://t.co/AVmiI4INqs
ProTradersNews
2 Jun 15 06:53:03
$KTOS $PXD: Stocks on Boom- Pilgrim's Pride Corporation (NASDAQ:PPC ...: http://t.co/BhEiKOxOuE
Seeking Alpha Alerts
2 Jun 15 06:48:21
@CaseyA_033 $pxd Pioneer Natural Resources: 4 Reasons Why I Like The EFS Midstream Deal http://t.co/OoZOxSyDR4
Quick Stock Ideas
2 Jun 15 06:47:41
Pioneer Natural Resources: 4 Reasons Why I Like The EFS Midstream Deal http://t.co/AHiNCNSUSW $EPD $PXD
				
				
By  +Follow October 16, 2013 4:31PM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.

Login or Register

LOG IN