Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stocks Stage a Late Rally While Facebook Soars


Today's financial recap and tomorrow's financial outlook.


The S&P 500 (INDEXSP:.INX) finished the day up 0.30% following a late-day surge.

Durable goods came in better than expected, rising 4.2% month over month versus the 1.5% consensus. Last month's figure was revised up to 5.2% from 3.6%. New orders ex-transports rose less than expected, coming in flat versus the 0.6% consensus.

On the employment front, initial jobless claims came in slightly worse than expected at 343K, which was 2K more than the consensus.

Gold was up 0.9% on the day to $1,330 per ounce. The 10-year yield jumped 2 bps to 2.61%.

The SPDR S&P Homebuilders ETF (NYSEARCA:XHB) fell 2.5% on the day after two major homebuilders reported disappointing earnings. D.R. Horton (NYSE:DHI) fell 9% after missing analysts' estimates while PulteGroup (NYSE:PHM) shares dropped 12% after doing the same.

Facebook (NASDAQ:FB) shares rocketed up 26% after topping Wall Street's expectations by an enormous margin as the company reported a surge in mobile advertisements.

This morning Great Britain released GDP of 0.6%, in-line with analysts' estimates.

Tomorrow's Financial Outlook

The University of Michigan consumer sentiment report is due out tomorrow at 9:55 a.m. EDT. The index is expected to record a reading of 84.0.

Tyco International (NYSE:TYC), LyondellBasell (NYSE:LYB), and Aon (NYSE:AON) are among the companies reporting earnings tomorrow.

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos