Apple’s Rally and Boeing’s Bad News Bears: Market Recap
The U.S. equity markets closed Wednesday on a mixed note. Volatility remains relatively low despite a battery of economic news as investors seem determined to focus on earnings this season.
At the close: DJIA: -0.17%, S&P 500: +0.02%, NASDAQ: +0.22%.
On the commodities front, Oil (NYSE:USO) climbed 0.95 percent to $94.17 per barrel. Precious metals were also down, with Gold (NYSE:GLD) falling 0.24 percent to $1,679.80 per ounce, and Silver (NYSE:SLV) falling 0.11 percent to $31.50 per ounce. The U.S. Treasury 10-year yield fell 0.019 points to 1.817 percent.
Japan’s two largest airlines, All Nippon Airways and Japan Airlines, grounded their fleets of Boeing (NYSE:BA) 787 Dreamliners on Wednesday after a battery issue on a domestic flight forced an emergency landing. Shares were off 3.38 percent for the day… (Read more.)
Chipotle Mexican Grill (NYSE:CMG) fell over 8 percent in morning trading on Wednesday before cooling off to more modest losses of about 5.6 percent. Investors jumped ship after the company announced preliminary results for the fourth quarter, which suggest a weak end to the year and continued troubles in 2013… (Read more.)
New data compiled by the NPD Group revealed a trend in coffee drinking habits that bodes well for Green Mountain Coffee Roasters (NASDAQ:GMCR). Based upon coffee drinking habits in the United Kingdom, the firm released a chart that showed a distinct difference between the growth rates of the traditional coffee sector and the specialty coffee sector… (Read more.)
Apple (NASDAQ:AAPL) rallied over 4 percent, closing the day at $506.09. But despite the positive movement, some analysts think that the stock lacks the potential to move materially higher in the next 12 to 24 months. Andy Hargreaves at Pacific Crest cut the company’s rating from “Outperform” to “Sector Perform” on Wednesday… (Read more.)
On Wednesday, President Barack Obama and Vice President Joe Biden rolled out a wide-ranging list of executive actions regarding gun control. The event took place at the White House with an audience that included children from across the country. In addition to the executive actions, Obama called on Congress to: ban military-style assault weapons, ban capacities of more than 10 rounds, require background checks on all gun sales and create tougher penalties for those selling guns to people who are not legally allowed to have them.
Despite the moves made by the Obama Administration, investors were pleased with the news. Gun-related stocks rallied across the board… (Read more.)
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