Dow Falls From High, Blackstone Ups Ante, Dollar Injured
The stock market surged higher once again today on earnings optimism. However, the DJIA fell back from its yearly high of 9931 after weakness in tech shares and good old fashion profit taking took over. Private equity kingpin, Blackstone Group, upped the ante, betting on an improving economy by seeking new IPO’s for 8 companies and placing five more up for sale. A tremendous show of confidence in these shaky times. The U.S. Dollar continues to suffer injuries as countries the world over are making good on threats to dump the Greenback. The DJIA climbed +20.86 to 9885.80, the Nasdaq barely slipped back -0.14 to 2139.14 and the S&P 500 advanced +4.69 to 1076.18.
Wynn Resorts
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PowerRating): Fell 2.86% or $1.94 to $65.88/share after officials in Macau made representations of possible gambling restrictions.
Build-A-Bear
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PowerRating): Advanced 18.57% or 91 cents to $5.81/share upon being upgraded by BMO Capital Markets to “outperform”.
Ford Motor
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PowerRating): Climbed 7.02% or 50 cents to $7.62 after sales climbed in Europe thanks to the Fiesta and other sub compacts.
KB Home
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PowerRating): Dropped 7.84% or $1.29 to $15.17/share once a SEC investigation was launched into potential irregularities.
Oil added $1.50 to $73.147, gold advanced $8.90 to $1058.00 and the VIX fear index fell 0.48% to 23.01.
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