Stocks Mixed, Confidence Down, Home Prices Up

  • October 27, 2009
  • Dave Goodboy

Stocks closed mixed today despite a strong showing from the home price index. A dramatic fall in the consumer confidence figures was counteracted by bullish news of IBM’s stock repurchase plan resulting in a positive DJIA while the other major indexes ended in negative territory. The DJIA added +14.21 to 9882.17, the Nasdaq fell -25.76 to 2116.09 and the S&P 500 gave back -3.54 to 1063.41.

US Steel
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PowerRating): Shares fell 7.81% or $3.17 to $37.41 after another loss in the fourth quarter was forecast.

Baidu
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PowerRating): Dropped 11.39% or $49.31 to $383.66 after fourth quarter revenue estimates missed analysts expectations.

Lululemon Athletica
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PowerRating): Advanced 8.52% or $2.19 to $27.90/share upon upping its earnings forecast.

Cabot Oil & Gas
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PowerRating): A JP Morgan upgrade sent shares higher by 9.76% or $3.74 to $42.05.

Oil climbed 87 cents to $79.56, gold fell $7.40 to $1035.00, and the VIX index climbed 2.14% to 24.83.

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Market Snapshot

Dow

 +14.21 9882.17

NASDAQ

 -25.76 2116.09

S&P 500

 -3.54 1063.41

Economic
News

CaseShiller Home Price Index (Aug): Consensus: -11.90%, Prior: -13.30%

Consumer Confidence (Oct): Consensus: 53.5, Prior: 53.1

Durable Orders (Sep): Consensus: 1.0%, Prior: -2.4%

Durable Orders ex Transportation (Sep): Consensus: 0.7%, Prior: 0.0%

New Home Sales (Sep): Consensus: 440K, Prior: 429K

Crude Inventories (10/23): Consensus: NA, Prior: 1.31M

Chain Deflator-Adv. (Q3): Consensus: 1.3%, Prior: 0.0%

GDP-Adv (Q3): Consensus: 3.2%, Prior: -0.7%

Initial Claims (10/24): Consensus: 525K, Prior: 531K

Continuing Claims (10/17): Consensus: 5915K, Prior: 5923K

Personal Income (Sep): Consensus: 0.0%, Prior: 0.2%

Personal Spending (Sep): Consensus: -0.5%, Prior: 1.3%

PCE Prices (Sep): Consensus: -0.5%, Prior: -0.5%

Core PCE Prices (Sep): Consensus: 0.2%, Prior: 0.1%

Chicago PMI (Oct): Consensus: 48.7, Prior: 46.1

Mich Sentiment-Rev (Oct): Consensus: 70.0, Prior: 69.4

Employment Cost Index (Q3): Consensus: 0.4%, Prior: 0.4%