Indexes Close Mixed, Oil Hits Record, Goldman Surges

Stock indexes had a volatile session ending mixed on the day. The DJIA closed down -38.27 to 12269.08, the Nasdaq gained +20.28 to 2474.78 and the S&P 500 gained slightly +0.11 to 1360.14.

Goldman Sachs
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surged $3.71/share or 2.08% to 182.00 after it was reported that the company slashed hundreds of Investment Banker jobs.

Hershey Co.
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lost 6.24% or $2.39/share to $35.94 on news that the chocolate maker’s largest shareholder does not want to give up control.

Landry’s Restaurants
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jumped 17.39% or $2.92/share to $19.71 after the company founder agreed to buy back the shares at $21.00/share.

SunPower Corp
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advanced 7.20% or $5.60/share to $83.35 on Credit Suisse raising its rating to “outperform”.

Oil hit an all time record today, then pulled back to 133.87. Gold climbed $13.20 to 886.30/oz and the VIX slipped 1.41% to 20.92.

Market Snapshot

Dow

-38.27 12269.08

NASDAQ

+20.28 2474.78

S&P 500

+0.11 1360.14

ar continued to gain against the Euro.

Economic
News

NY Empire State Index (Jun): Actual -8.7%, Consensus -2.0%

Net Foreign Purchases (Apr): Consensus 63.2B, Prior 79.6B

PPI (May): Consensus 1.0%, Prior 0.2%

Core PPI (May): Consensus 0.2%, Prior 0.4%

Housing Starts (May): Consensus 980K, Prior 1032K

Building Permits (May): Consensus 960K, Prior 978K

Capacity Utilization (May): Consensus 79.7%, Prior 79.7%

Industrial Production (May): Consensus 0.1%, Prior -0.7%

Crude Inventories (06/14): Consensus NA, Prior -4560K

Initial Claims (06/14): Consensus 375K, Prior 384K

Leading Indicators (May): Consensus 0.0%, Prior 0.1%

Philadelphia Fed (June): Consensus -10.0, Prior -15.6