Obama Rips Hedge Funds, Spending Slumps, Stocks Mixed
News of a slump in Consumer Spending was counteracted by a soaring Purchasing Managers Index leading to a confused mixed stock market. Chrysler made its bankruptcy official today prompting President Obama to provide optimistic words about the company while ripping on hedge funds and lenders who wouldn’t assist the ailing automaker. The DJIA flirted back and forth across the break even point finally settling down -17.61 to 8168.12, the Nasdaq eased ahead by +5.36 to 1717.30 and the S&P 500 slipped -0.83 to 872.81.
Sequenom
(
SQNM |
Quote |
Chart |
News |
PowerRating) – Plunged 75.65% or $11.28 to $3.63/share due to mishandled test data of a Down Syndrome test by employees.
Starbucks
(
SBUX |
Quote |
Chart |
News |
PowerRating) – Climbed 5.62% or 0.77 cents to $14.46 after it announced that customer traffic declined less than expected.
Oshkosh
(
OSK |
Quote |
Chart |
News |
PowerRating) – The manufacturer of military trucks and scissor lifts led the Russell 1000 lower after besting analysts loss estimates. The stock fell 21.57% or $2.64 to $9.60/share.
Expedia
(
EXPE |
Quote |
Chart |
News |
PowerRating) – The online travel agency soared 28.52% or $3.02 to $13.61/share after crushing first quarter earnings estimates.
Oil fell 0.15 cents to $50.96, Gold dropped $90.30 to $891.20 and the VIX index added 1.16% to 36.50.
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 |
|||
|