Investing

24/7 Wall St. Closing Bell -- January 28, 2013: Markets Open Mixed, Close Nearly Flat (AKS, HEP, NWSA, FB, BBY, CAT, ROP, SIFY, BIIB, YHOO, STX, VMW, STLD, BSX, DHI, F, BTU, PFE, VLO, KERX, JOSB, HLF)

U.S. equity markets opened mixed this morning on relatively little new data. In Europe, Italian consumer confidence rose more than expected and Germany auctioned 12-month bills at a positive yield for the first time since last June. In Asia, Japan’s cabinet said it expects 2013 GDP growth to reach 2.5% and CPI growth of around 0.5%. A governor of the People’s Bank of China said he expects GDP growth in the Middle Kingdom to be 8% in 2013. Profits at China’s major industrial enterprises grew 5.3% last year. In the U.S., durable goods orders rose more than expected — 4.6% — and pending home sales were weaker than expected (more coverage here).

The U.S. dollar index rose 0.05% today, now at 79.781. The GSCI commodity index is down 0.2% at 662.75, with commodities prices mostly higher today. WTI crude oil closed up 0.6% today, at $96.44 a barrel. Brent crude trades up 0.2% at $113.47 a barrel. Natural gas is down 4.5% today at about $3.29 per million BTUs. Gold settled down 0.2% today at $1,655.90 an ounce.

The unofficial closing bells put the DJIA down about 13 points to 13,882.31 (-0.10%), the NASDAQ rose nearly 5 points (0.10%) to 3,154.30, and the S&P 500 fell -0.18% or nearly 3 points to 1,500.18.

There were a several analyst upgrades and downgrades today, including AK Steel Holding Corp. (NYSE: AKS) cut to ‘sell’ at Goldman Sachs; Holly Energy Partners LP. (NYSE: HEP) cut to ‘sell’ at Goldman Sachs; News Corp. (NASDAQ: NWSA) raised to ‘overweight’ at Morgan Stanley; Facebook Inc. (NASDAQ: FB) raised to ‘outperform’ at Raymond James; and Best Buy Co. Inc. (NYSE: BBY) raised to ‘buy’ at BB&T.

Earnings reports since markets closed last Friday resulted in several price moves today, including these: Caterpillar Inc. (NYSE: CAT) is up 1.7% at $97.20 (more coverage here); Roper Industries Inc. (NYSE: ROP) is down 0.2% at $118.55 after posting a new 52-week high of $120.67 earlier today; Sify Technologies Ltd. (NASDAQ: SIFY) is up 4.3% at $2.41; and Biogen Idec Inc. (NASDAQ: BIIB) is up 3% at $150.55 (more coverage here).

After markets close today and before they open Monday morning we are scheduled to hear from Yahoo! Inc. (NASDAQ: YHOO), Seagate Technology PLC (NASDAQ: STX), VMware Inc. (NYSE: VMW), Steel Dynamics Inc. (NASDAQ: STLD), Boston Scientific Corp. (NYSE: BSX), D.R. Horton Inc. (NYSE: DHI), Ford Motor Co. (NYSE: F), Peabody Energy Corp. (NYSE: BTU), Pfizer Inc. (NYSE: PFE), and Valero Energy Corp. (NYSE: VLO).

Some standouts from today include the following stocks:

Keryx Biopharmaceuticals Inc. (NASDAQ: KERX) is up 82.5% at $6.26 after posting a new 52-week high of $6.86 earlier today. The biopharma company reported better-than-expected results in trials of a new kidney drug. More coverage here.

Jos. A. Bank Clothiers Inc. (NASDAQ: JOSB) is down 16.3% today at $38.72 after posting a low of $37.31. The apparel retailer issued a sharp warnings on quarterly earnings after markets closed last Friday.

Herbalife Ltd. (NYSE: HLF) is down 8.8% at $39.77. The nutritional and weight-loss products maker took some damage today from an announced prosecution of another multi-level marketing firm. More coverage here.

Stay tuned for Tuesday. The Federal Open Market Committee (FOMC) begins a two-day meeting today. We have noted the following event on the schedule (all times Eastern):

  • 9:00 a.m. – Case-Shiller house price index
  • 10:00 a.m. – Conference Board consumer confidence
  • 10:00 a.m. – State Street investor confidence index
  • 11:30 a.m. – 4-week Treasury bill auction
  • 1:00 p.m. – 5-year Treasury note auction

The Average American Is Losing Momentum On Their Savings Every Day (Sponsor)

If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4%1 today. Checking accounts are even worse.

But there is good news. To win qualified customers, some accounts are paying more than 7x the national average. That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn a $200 bonus and up to 7X the national average with qualifying deposits. Terms apply. Member, FDIC.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.

1 https://www.fdic.gov/national-rates-and-rate-caps

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

AI Portfolio

Discover Our Top AI Stocks

Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.

You can follow him investing $500,000 of his own money on our top AI stocks for free.