Stocks have remained flat today as little economic data has been released.
(INDEXDJX:.DJI) increased 0.01% to 14,974.89. The S&P 500
(INDEXSP:.INX) climbed 0.19% to 1,617.41, and the Nasdaq
(INDEXNASDAQ:.IXIC) rose 0.39% to 3,391.68.
The US Treasury announced today that it would auction $20 billion in 4-week Treasury bills tomorrow. Later today, the Treasury will report on the amount of net stripping of Treasury securities. (Separate Trading of Registered Interest and Principal of Securities, or STRIPS, refers to the stripping of interest payments from a Treasury bond but results in the selling of the bonds at a deep discount.) The Treasury also announced that it auctioned $29 billion 3-month Treasury notes with a 0.040% rate and with a bid-to-cover ratio of 4.96 and $24 billion 6-month Treasury bills with a rate of 0.075% and with a bid-to-cover ratio of 5.37.
(NYSE:AMTD) will release the monthly results for its Investor Movement Index today at 12:30 p.m. EDT. The behavior-based index measures the sentiment of “Main Street” investors.
Bank of America
(NYSE:BAC) rose 2.12% to $12.50. New York prosecutor Eric Schneiderman will file a lawsuit against Bank of America and Wells Fargo
(NYSE:WFC) for allegedly violating the terms of a $26 billion mortgage settlement.
(NASDAQ:AAPL) increased 2.40% to $460.76. Barclays Capital increased its price target for the stock from $465 to $525. Analyst Ben Reitzes cited the upcoming Worldwide Developers’ Conference where he believes Apple will reveal new products.
(NYSE:MS) climbed 2.26% to $23.28.
(NASDAQ:AMZN) fell 0.44% to $256.91. The online retailer launched an Android application store that sells apps in China.
Cliffs Natural Resources
(NYSE:CLF) jumped 3.31% to $20.57. FBR Capital analyst Mitesh Thakkar upgraded the mining company from “Market Perform” to “Outperform.” Thakkar cited his belief that Cliffs Natural Resources can reduce spending on several initiatives and raise cash by selling assets.
No positions in stocks mentioned.