Daily Market Wrap: May 29, 2012 Tuesday, May 29, 3:14 PM ET
The markets opened higher this morning after the holiday weekend and extended their gains, despite lackluster economic reports.
The S&P/Case Shiller composite index of 20 metropolitan cities showed a gain of 0.1 percent in home prices in March, falling short of economists expectations.
Also out this morning were the consumer confidence numbers for May, which dropped to 64.9. Economists expected a reading of 70.
Investors continue to keep an eye on Facebook (NASDAQ:
FB) as the company is in talks to acquire Norwegian firm Opera Software ( OPESF).
Meanwhile, Facebook was trading down below $30 a share today.
JP Morgan Chase (NYSE:
JPM) has sold an estimated $25 billion in profitable securities in a move to offset the bank's "London Whale" losses.
Meanwhile, the bank is facing more scrutiny as the firm was reportedly identified as the source of leaked confidential information in Japan.
Tomorrow, we'll take a look at the numbers for weekly mortgage applications and pending home sales, as well as earnings results from TiVo(NASDAQ:
For Marketnewsvideo.com, I'm Sayoko Murase.
Thursday Sector Laggards: Apparel Stores, Construction Stocks
Related symbols: LB, LE, EME, TPC
Thursday Sector Leaders: Oil & Gas Refining & Marketing, Electric Utilities
Related symbols: CLMT, AMRS, FE, EBR
Wednesday Sector Laggards: Precious Metals, Oil & Gas Exploration & Production Stocks
Related symbols: GMO, TRX, PKD, ORIG
Thursday's ETF with Unusual Volume: PPH
Related symbols: PPH, PFE, VRX, ENDP, GWPH
Thursday's ETF Movers: GDXJ, XME
Related symbols: TGZ.CA, GUY.CA, KALU, X, XME, GDXJ
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Related symbols: EWJ, FINZ
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Related symbols: CB, MTB, WR, ESS, CI
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Related symbols: DHR, ETN, XEL, MIC, AGO, DE
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Related symbols: HD, NEE, AET, WMB, PEG, GPC
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Daily Market Wrap: May 29, 2012
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