Rally Fizzles, Unemployment Grows, Factory Surprise
Stocks took a breather today as the raging rally fizzled out on worse than expected news from the employment front. However, shares closed well off their lows as positive factory order data spurred the bulls back into buying. The DJIA gave back -39.22 to 9280.97, the Nasdaq gave back -18.26 to 1993.05 and the S&P 500 fell -2.93 to 1002.72 staying above the psychologically critical 1000 level.
Ameristar Casinos
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PowerRating) – Missed analyst’s estimates for the fiscal third quarter sending shares lower by 11.12% or $2.24 to $17.91.
American International Group
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PowerRating) – Surged an incredible 62.72% or $8.48 to $22.00/share after a rally lifted the mortgage insurance sector.
Bank of America
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PowerRating) – A Jim Cramer recommendation sent shares higher by 6.52% or $1.02 to $16.66.
Whole Foods Market
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PowerRating) – The second biggest gainer in the S&P 500 with shares soaring 15.63% or $3.88 to $28.70 upon beating earning estimates by 25%.
Gold fell $3.40 to $966.30, oil added 55 cents to $71.83 and the fear index VIX added 0.04% to 24.90.
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