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.@Minyanville
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