Stock Market News for February 8, 2013 - Market News
08 Fevereiro 2013 - 7:36AM
Zacks
Investor sentiment was dampened
yesterday following weak earnings and a discouraging outcome to the
ECB meeting, dragging major indices into the red. Initial claims
showed gradual signs of improvement in the U.S. economy, but could
not help indices finish in the green. Among the top 10 S&P 500
groups, material stocks were the biggest losers while consumer
staples sector emerged as the major gainer.
The Dow Jones Industrial Average
(DJI) decreased 0.3% to close the day at 13,944.05. The S&P 500
declined 0.2% to finish yesterday’s trading session at 1,509.39.
The tech-laden Nasdaq Composite Index lost 0.1% to end at 3,165.13.
The fear-gauge CBOE Volatility Index (VIX) increased 0.7% to settle
at 13.50. Consolidated volumes on the New York Stock Exchange,
American Stock Exchange and Nasdaq were roughly 6.6 billion shares,
higher than the daily average of 6.45 billion shares in 2012.
Declining stocks outnumbered the advancers on the NYSE. For 38%
stocks that advanced, 58% declined.
The Street began yesterday’s
trading session in a bearish mood and the Dow lost as much as 134
points initially. But the index recovered almost 100 points later
in the day. Following the European Central Bank policy meeting, ECB
president Mario Dragi said the Euro Zone will continue to struggle
in the first half of 2013. “Later in 2013, economic activity should
gradually recover, supported by our accommodative monetary policy
stance, the improvement in financial markets confidence... as well
as a strengthening of global demand,” he added. The ECB has
maintained its benchmark rate at a record low of 0.75%.
On the earnings front, shares of
software and programming giant Akamai Technologies, Inc.
(NASDAQ:AKAM) dropped 15.2% after the company’s revenue came in
below the Street’s expectations. Shares of Sprint Nextel
Corporation (NYSE:S) dropped almost 0.5%. The company suffered a
loss after its customer-base in contract-based plans shrunk by
243,000. It also had to bear an extra cost of $1.3 billion to
upgrade its network so as to more effectively compete with its
rivals.
On a positive note, shares of DeVry
Inc. (NYSE:DV) surged 16.4% after earnings beat the Street’s
estimates. The company grew profit via cost cutting and
restructuring. Shares of auto parts giant O'Reilly Automotive Inc
(NASDAQ:ORLY) surged 8% after its earnings beat the Street’s
estimates.
According to the U.S. Department of
Labor, the number of Americans filing for unemployment benefits
decreased 5,000 to 366,000 from prior week’s revised figure of
371,000. This was above the consensus estimate of 363,000.
Consequently, the four-year moving average has decreased to its
lowest level since March 2008. Meanwhile, the Federal Reserve
System said Consumer Credit stepped up to 6.5% for the fourth
quarter. Revolving credit increased marginally by 0.1% while the
Non-revolving credit increased 9.4% for the same period.
Among the top 10 S&P 500
industry groups, consumer staples sector was the larger gainer. The
Consumer Staples SPDR (XLP) increased 0.5%. Stocks such as The
Coca-Cola Company (NYSE:KO), Altria Group, Inc. (NYSE:MO),
Colgate-Palmolive Company (NYSE:CL), General Mills, Inc. (NYSE:GIS)
and PepsiCo, Inc. (NYSE:PEP) gained 1.6%, 1.4%, 0.4%, 0.3% and
0.1%, respectively.
The biggest loser among the S&P
500 industry groups was the materials sector. The Materials SPDR
(XLB) decreased 0.5%. Stocks such as Nucor Corporation (NYSE:NUE),
Ecolab Inc. (NYSE:ECL), Monsanto Company (NYSE:MON), The Dow
Chemical Company (NYSE:DOW) and Praxair, Inc. (NYSE:PX) decreased
1.5%, 0.8%, 1.1%, 1% and 0.3%, respectively.
AKAMAI TECH (AKAM): Free Stock Analysis Report
COLGATE PALMOLI (CL): Free Stock Analysis Report
DOW CHEMICAL (DOW): Free Stock Analysis Report
DEVRY INC (DV): Free Stock Analysis Report
ECOLAB INC (ECL): Free Stock Analysis Report
GENL MILLS (GIS): Free Stock Analysis Report
COCA COLA CO (KO): Free Stock Analysis Report
ALTRIA GROUP (MO): Free Stock Analysis Report
MONSANTO CO-NEW (MON): Free Stock Analysis Report
NUCOR CORP (NUE): Free Stock Analysis Report
O REILLY AUTO (ORLY): Free Stock Analysis Report
PEPSICO INC (PEP): Free Stock Analysis Report
PRAXAIR INC (PX): Free Stock Analysis Report
SPRINT NEXTEL (S): Free Stock Analysis Report
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