GDP Surprises, Markets Mixed, Ackermann Warns Banks
Fantastic economic news that the Gross Domestic Product sunk less than expected pushed many companies slightly higher on the day. However, Deutsche Bank CEO, Josef Ackermann, issued a dire warning that waves of defaults may hit the banking sector very soon counteracted the positive GDP news causing stocks to close mixed on this last trading day of the week. The DJIA managed to hang onto positive territory closing up +17.15 to 9171.61 after a very choppy session. The Nasdaq slipped back -5.80 to 1978.50 and the broad based S&P 500 eased higher by +0.73 to 987.48.
Beckman Coulter
(
BEC |
Quote |
Chart |
News |
PowerRating) – The lab gear maker climbed 11.17% or $6.33 to $62.99/share after being upgraded to outperform by Robert Baird & Co.
Dun & Bradstreet
(
DNB |
Quote |
Chart |
News |
PowerRating) – Dropped hard 13.03% or $10.79 to $71.99/share after the business credit agency slashed its forecasts for 2009.
Washington Post
(
WPO |
Quote |
Chart |
News |
PowerRating) – Surged to be the largest gainer in the S&P 500 climbing 7.73% or $32.40 to $451.50/share after posting a second quarter profit.
Office Max
(
OMX |
Quote |
Chart |
News |
PowerRating) – Citigroup upgraded shares to buy triggering the stock to add 12.99% or $1.07 to $9.31.
Gold regained its luster adding $18.50 to $955.80, oil climbed $2.51 to $69.18 and the VIX fear index added 2.05% to 25.92
According to a recent report, eight out of ten securities traded are exchange-traded funds. Want to learn how to trade them? Click here to pre-order High Probability ETF Trading, the first quantified book of trading strategies to improve your ETF trading.
| Market Snapshot | |||||||||||||
|
| Economic News |
|||
|