Dow Bounces Back as Wall Street Puts the Breaks on Slide

Michael Teague |

A smattering of strong earnings reports as well as unexpectedly good consumer confidence data helped break Wall Streets losing streak in Tuesday trading, on the same day as the board of the Federal Reserve convened its last monthly FOMC meeting under the chairmanship of Ben Bernanke.

  • Dow Jones Industrial Average: +0.57 percent to 15,928.56

  • Standard & Poor’s 500 Index: +0.61 percent top 1,792.50

  • NASDAQ: +0.35 percent to 4,097.96

Our Top Stories:

On the Dow:

Mega drug-manufacturer Pfizer Inc. (PFE) added over 2.50 percent by the closing bell after earnings for the recently-ended period handily beat estimates, while optimism grows about some experimental drug-treatments the company has in its pipeline. Most of the Dow’s components ended the day in the positive, but Cisco Systems (CSCO) and E.I. du Pont de Nemours and Company (DD) were down over 1 percent.

On the S&P 500:

Bank of America (BAC) made the highest-volume gains on the day, up nearly 2.60 percent by the closing bell, but tech shares helped send the benchmark index higher. Facebook (FB) , Yahoo! (YHOO) , Xerox (XRX) and Microsoft (MSFT) all closed the day higher.

Apple (AAPL) was a different story, however, with the stock tanking nearly 8 percent by the bell after yesterday’s earnings report disappointed on iPhone sales.

On the NASDAQ:

Data storage device-maker Seagate Technology (STX) was down 11 percent by the bell after its own disappointing balance sheet was released, and semiconductor company Himax Technologies (HIMX) lost over 6 percent after the company’s stock was downgraded.

American Airlines Group ($AAL) was up nearly 6 percent despite its own earnings that showed the company operating at a loss for its recently ended fourth-quarter, but the results were still much better than what analysts had predicted.

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

Companies

Symbol Name Price Change % Volume
HIMX Himax Technologies Inc. 8.22 -0.11 -1.32 2,886,031 Trade
FB Facebook Inc. 166.91 -3.09 -1.82 17,300,019 Trade
AAPL Apple Inc. 157.86 -3.09 -1.92 28,075,109 Trade
STX Seagate Technology 31.51 -0.97 -2.99 3,483,084 Trade
CSCO Cisco Systems Inc. 31.04 -1.30 -4.02 53,289,913 Trade
BAC Bank of America Corporation 23.64 -0.55 -2.27 79,101,717 Trade
DD E.I. du Pont de Nemours and Co. 80.86 -1.15 -1.40 3,381,263 Trade
XRX Xerox Corporation 31.85 -0.56 -1.73 1,897,269 Trade
AAL American Airlines Group Inc. 46.03 -2.38 -4.92 10,304,827 Trade
PFE Pfizer Inc. 32.95 -0.41 -1.23 14,858,764 Trade
YHOO Yahoo! Inc. n/a n/a n/a 0 Trade
MSFT Microsoft Corporation 72.40 -1.25 -1.70 22,981,772 Trade
EACR Earn-A-Car 0.00 0.00 0.00 0

Comments

Emerging Growth

Liberty One Lithium Corp

Liberty One Lithium Corp is a mineral exploration company engaged in acquisition and development of high grade lithium brine deposits.

Private Markets

Quants Inc

Quants, Inc, a California Corporation, develops, markets and operates financial technology platforms and alternative investment products offering sophisticated risk management since 2010. The Company has primarily sharpened its focus with…

Mesa-Marshall 2 Well Project

MESA Resources ("MESA") is sponsoring the development of the two well direct drilling project -- "Mesa-Marshall #1-2". MESA, founded in 1992, is engaged in the acquisition, exploration and development of…