Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Stocks Extend Losses

Thursday, June 20, 2013 11:53 AM
U.S. stocks traded sharply lower, across-the-board by mid-day trade on Thursday, tracking rout in global equity, commodity and bullion markets as market participants are edgy after the Fed indicated at possible pullback of the bond purchase program by the year-end, raising concerns that it could decelerate the momentum of the U.S. economy. At last check, the DJIA plunged 1.50%; the NASDAQ Composite Index tumbled 1.59% while the S&P 500 Index slumped 1.67%. On the U.S. economic data front, existing home sales rose more-than-expected. A data provided by the National Association of Realtors showed that existing home sales climbed 4.2% in May to an annual rate of 5.18 million units. Economists expected existing home sales to rise at an annual rate of 5.00 million units. This was the highest level in preceding three and half years. According to the Philadelphia Federal Reserve, factory activity in the mid-Atlantic region picked up in June as the index climbed to 12.5 from negative 5.2 in the previous month. Economists expected the reading at negative 2. A reading exceeding zero signifies expansion in manufacturing activities. Weekly initial jobless claims rose 18,000 to a seasonally adjusted 354,000 for the last week, the U.S. Labor Department said. Economists expected weekly jobless claims climbing to 340,000. Shares of Wright Medical Group Inc. (NASDAQ: WMGI) rallied on Thursday. Wright Medical announced on Wednesday that it has entered in a definitive agreement with MicroPort Medical B.V., under which MicroPort Scientific Corp, the latter’s subsidiary will acquire the former’s OrthoRecon business in deal estimated at $290 million. The deal is expected to close by the end of the third quarter or at the start of the fourth quarter of 2013, subject to regulatory and MicroPort’s shareholders’ approval. Citi reaffirmed “buy” rating on ConAgra Foods Inc. (NYSE: CAG) and has a price target of $41. The firm also added the stock in its “Top Picks” List; shares however edged lower.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

VW to keep adding Chinese capacity amid double-digit growthVW to keep adding Chinese capacity amid double-digit growth
BEIJING (Reuters) - Volkswagen <VOWG_p.DE> will keep adding capacity in China as the German group is counting on double-digit growth in the biggest auto market, helped by strong economic growth ...
Russia's PM says government has funds to honor social spending pledgesRussia's PM says government has funds to honor social spending pledges
MOSCOW (Reuters) - Russia`s government has enough resources honor all its social spending pledges although this will not be easy, Prime Minister Dmitry Medvedev was quoted as telling the country`s pre...
Exclusive: Biogen prices hemophilia drug on par with older therapiesExclusive: Biogen prices hemophilia drug on par with older therapies
(Reuters) - Biogen Idec Inc is pricing its newly approved long-acting hemophilia drug, Alprolix, to cost U.S. patients, and insurers, about the same per year as older, less convenient therapies whos...
Auto airbag maker Continental named in GM recall suitAuto airbag maker Continental named in GM recall suit
(Reuters) - Plaintiffs` lawyers are seeking to draw Continental Automotive Systems U.S., the maker of airbag systems in recalled General Motors Co <GM.N> vehicles, into litigation over an igni...
Audi expects to sell half million cars in China this yearAudi expects to sell half million cars in China this year
BEIJING (Reuters) - Volkswagen`s <VOWG_p.DE> luxury division Audi plans to sell about half a million cars this year in China, the world`s biggest auto market, and raise the number of its Chine...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.