Equities Mid-Day Market Roundup: Stocks Waiver on Economic Data

Equities Editors Desk |

U.S. GDP economy slow 1.8 percentU.S. stocks are rebounding in mid-day trading as investors shook off mixed economic data to push equities higher. The U.S. Department of Commerce said that U.S. GDP expanded only 1.8 percent in the first quarter of 2011, a huge drop from the 3.1 percent from the three months prior. In addition, the Labor Department also announced that the number of initial jobless claims rose 25,000 last week to 429,000. It's the highest total since January. But many investors are coming back into U.S. equities due to the fact that the Federal Reserve has decided to end its bond buyback program once QE2 is completed. Investors that have been moving away from U.S. stocks and into commodities and international equities because of the weakening dollar, but experts believe that should reverse once the program ends.

Major U.S. Stock Indices

DJIA: 12,736.71 (+0.33 percent)
S&P 500: 1,357.47 (+0.13 percent)
Nasdaq: 2,865.14 (-0.17 percent)
Russell 2000: 859.42 (+0.13 percent)

In other news:

  • What's wrong with the U.S. economy? Where to begin... [Economist]
  • NYSE Euronext (NYSE: NYX) still isn't swayed by the Nasdaq OMX (NASDAQ: NDAQ) and InterContinentalExchange (NYSE: ICE) bid, but their investors may be warming to the idea. [WSJ]
  • Is the Fed really ending quantitative easing? Apparently, some seem to think QE3 might just be right around the corner. [Minyanville]
  • Energy stocks loved by Goldman Sachs (NYSE: GS) [The Street]
    • Occidental Petroleum Corporation (NYSE: OXY)
    • Exxon Mobil (NYSE: XOM)
    • Plains Exploration & Production Company (NYSE: PXP)
    • First Solar, Inc. (NASDAQ: FSLR)
    • Cenovus Energy Inc. (NYSE: CVE)
  • Erin Burnett is leaving CNBC. Great, now the Street Sweetie nickname makes almost no sense. [Dealbreaker]

Check back for more news.

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
ADK.PRA AdCare Health Systems Inc n/a n/a n/a 0

Comments

Emerging Growth

Sack Lunch Productions Inc

Sack Lunch Productions Inc is an entertainment company. The Company, through its subsidiaries, is engaged in event management, production service, film production and distribution services.

Private Markets

MyForce, Inc.

As parents, we constantly worry about the safety of our loved ones. The media bombards us with incidents from across the nation school shootings, frequent assaults on campuses, and crimes…

Ozobot by Evollve Inc

Ozobot is a world leader in compact super intelligent robots that entertain and educate through fun interactive gaming.