Wednesday Closing Bell: Markets Drift to Lower Close

September 25, 2013: U.S. markets opened slightly higher again Wednesday and pretty much followed the same trajectory as the day before. Today’s report on U.S. durable goods orders was a dubious achievement and other data on mortgage applications and new home sales was only marginally better. The crude oil inventory rose much more than expected and sent crude prices down for a fifth straight day.

European, Asian, and Latin American markets all closed mixed today.

Thursday’s calendar includes speeches by Fed Governor Jeremy Stein, Minneapolis Fed President Narayana Kocherlakota, and Kansas City Fed President Esther George and the following data releases and events (all times Eastern):

• 8:30 a.m. – GDP
• 8:30 a.m. – New claims for unemployment benefits
• 8:30 a.m. – Corporate profits
• 10:00 a.m. – Pending home sales
• 10:30 a.m. – EIA weekly natural gas storage report
• 11:00 a.m. – Kansas City Fed manufacturing index
• 1:00 p.m. – 7-year note auction
• 4:30 p.m. – Fed balance sheet and money supply

Here are the closing bell levels for Tuesday:

• S&P500 1,692.77 (-4.65; -0.27%)
• DJIA 15,273.26 (-61.33; -0.40%)
• NASDAQ 3,761.10 (-7.16; -0.19%)
• 10YR TNOTE 2.620% (+0.3125)
• Gold $1,336.20 (+19.90; +1.5%)
• WTI Crude oil $102.66 (-0.47; -0.5%)
• Euro/Dollar: 1.3527 (+0.0054; +0.40%)

Big Earnings Movers: Ascena Retail Group Inc. (NASDAQ: ASNA) is up 15.9% at $20.07. Autozone Inc. (NYSE: AZO) is up 2.8% at $425.73. Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is down 12.9% at $1.85.

Stocks on the Move: J.C. Penney Co. Inc. (NYSE: JCP) is down 15% at $10.12 after hitting a 12-year low. MAKO Surgical Corp. (NASDAQ: MAKO) is up 82.1% at $29.45 on a proposed buyout by Stryker Corp. (NYSE: SYK) for $1.65 billion. Foundation Medicine Inc. (NASDAQ: FMI) is up 97.7% at $35.58 after an IPO at $18 a share. Rare Element Resources Ltd. (NYSEMKT: REE) is down 16% at $2.79 after announcing a secondary offering.

In all, 109 stocks put up new 52-week highs today, while 20 stocks posted new lows.