Stock Market Watch

Stocks Headed for a Higher Finish

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Stocks are headed for a higher finish in trading today, following the huge sell-off on Wednesday that saw all three major indexes drop more than 3%. The sell-off on Wednesday was triggered by mounting worries about the debt crisis in Italy. However, concerns about Italy eased a little today after reports that the European Central Bank bought Italian bonds to bring down the country’s borrowing costs. Italy also successfully auctioned 1-year bills earlier in the day, although it had to pay a steep rate on the notes.

Stocks have also been lifted by some solid economic data in the U.S. Earlier today, the Labor Department reported that the initial jobless claims for the latest week fell to a level not since April. Meanwhile, the Commerce Department reported that the U.S. trade gap narrowed in September as exports rose.


All three major indexes are in green in late trading. At last check, the Dow Jones was trading 1.16% higher at 11,917.02, the S&P 500 was trading 0.77% higher at 1,238.60, and the Nasdaq was trading 0.11% higher at 2,624.46.

All sectors in the S&P 500 are currently in green. Conglomerates are leading the gains in the S&P 500 in late trading. At last check, Conglomerates were trading 1.55% higher. Energy stocks are currently trading 1.50% higher, while Basic Materials stocks are currently trading 0.78% higher.

Among the major gainers and losers in trading currently are EnerSys (NYSE: ENS), which is currently trading 20.53% higher at $26.59, Cisco Systems Inc. (NASDAQ: CSCO), which is currently trading 6.67% higher at $18.78, Kohl’s Corporation (NYSE: KSS), which is currently trading 2.04% higher at $55.40, RSC Holdings Inc. (NYSE: RRR), which is currently trading 9.44% higher at $11.01, United Rentals Inc. (NYSE: URI), which is currently trading 7.73% higher at $25.79, Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR), which is currently trading 39.29% lower at $40.69, and Pegasystems Inc. (NASDAQ: PEGA), which is currently trading 21.54% lower at $29.06.

 

 

edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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