Dollar Crushed, New Homes Surprise, Stocks Rise
The U.S. Dollar was simply crushed against the Euro. Driven lower by the Fed’s refusal to increase rates, traders moved into riskier assets pushing the stock market higher. New home sales experienced a surprising increase adding to the bullish fervor of this last full trading day of the Thanksgiving week. Gold hit another all time high as the precious metal surpassed $1190.00/oz intraday. Overall a good day in the equity market with the DJIA adding +30.69 to 10464.40, the tech heavy Nasdaq closing up +6.87 to 2176.05 and the broad based S&P 500 climbing +4.98 to 1110.63.
Gazprom
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PowerRating): Dropped 1.84% or 45 cents to $24.05 on a dramatic fiscal second quarter profit drop.
J Crew
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PowerRating): The clothing retailer climbed 7.83% or $3.20 to $44.05/share after beating 3rd quarter profit estimates.
Tiffany
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PowerRating): Growing revenue in Asia and Europe allowed the jeweler to beat estimates sending shares higher by 4.92% or $2.06 to $43.89.
Benihana
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PowerRating): The Japanese steak house posted an unexpected loss in its fiscal second quarter sending shares sharply lower by 31.60% or $1.64 to $3.55.
Oil added $1.94 to $77.72, gold hit a new record high up $20.60 to $1188.00 and the VIX index eased higher 0.05% to 20.48.
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