Erratic Positive Market, Inflation Fears Subside, Rates Higher
The final trading day of the week ended in an erratic yet positive close on the session. A lower than expected Consumer Price Index brought bullish sentiment to rate hike shocked stocks. The subsiding inflation fears calmed investor’s fears concerning additional rate hikes. In addition, the Fed was quick to point out that the surprise rate increase was procedural therefore shouldn’t be taken as a sign for more increases in the near future. The DJIA eased higher by +9.45 to 10402.35, the Nasdaq climbed +2.16 to 2243.87 and the S&P 500 added +2.42 to 1109.17.
^APOL^: Fell 7.37% or $4.53 to $56.92/share after the for profit college degree provider reported earnings that missed analysts estimates.
^CRA^: A Piper Jaffray downgrade send shares sliding 7.13% or 50 cents to $6.51.
^DELL^: Shares dropped 6.65% or 96 cents to $13.47 after missing earnings and gross profit estimates.
^WBMD^: Climbed 6.37% or $2.50 to $41.76 /share after stating it expects to beat 2010 estimates.
Oil climbed 92 cents to $79.98, gold advanced $3.30 to 1122.00 and the VIX fear index fell 2.96% to 20.02.
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