Stocks Higher in Mid-Day Trading
Stocks are higher in mid-day trading, with all three major indexes currently in green, as investors cheer better than expected existing home sales data. Stocks are also gaining after Japan’s central bank expanded its bond buying program to spur growth in the world’s third largest economy.
At last check, the Dow Jones was trading 0.35% higher at 13,611.97, the S&P 500 was trading 0.27% higher at 1,463.28, and the Nasdq was trading 0.12% higher at 3,181.57.
Consumer Cyclical sector is leading the gains in the S&P 500 in mid-day trading. At last check, the sector was trading 0.83% higher. Financials are also up sharply in trading currently. At last check, the sector was trading 0.50% higher. Basic Materials sector is currently trading 0.42% higher. Transportation sector is currently trading 0.44% higher. Energy is the only sector in red in mid-day trading today. At last check, the sector was down 0.10%.
Among the major gainers and losers in mid-day trading are Swift Transportation Co. (NYSE: SWFT), which is currently trading 7.73% higher at $8.36, Deckers Outdoor Corp. (NASDAQ: DECK), which is currently trading 8.30% lower at $40.30, General Mills Inc. (NYSE: GIS), which is currently trading 2.01% higher at $40.10, Questcor Pharmaceuticals Inc. (NASDAQ: QCOR), which is currently trading 30.74% lower at $34.99, United Continental Holdings Inc. (NYSE: UAL), which is currently trading 6.75% higher at $20.57, Northern Oil & Gas Inc. (AMEX: NOG), which is currently trading 4.09% lower at $17.81, and DryShips Inc. (NASDAQ: DRYS), which is currently trading 7.43% higher at $2.67.
On the economic front, a report released by the National Association of Realtors showed that existing home sales rose 7.8% in the month of August to an annual rate of 4.82 million units. Economists were expecting a reading of 4.55 million unit rate. Earlier, a report released by the Commerce Department showed that housing starts rose 2.3% to a seasonally adjusted annual rate of 750,000 units in August. Economists were expecting housing starts to rise to 765,000 unit rate.
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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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