Daily Market Wrap: August 29, 2012 Wednesday, August 29, 4:41 PM ET
The markets held onto modest gains following the Fed's Beige Book report which indicated that the economy grew gradually in July and early August.
Gross domestic product grew at a 1.7 percent annual rate in the second quarter, according to the Commerce Department. The growth was better than originally estimated by the government.
The National Association of Realtors said that pending home sales rose 2.4 percent to 101.7, which exceeded economists' expectations for a gain of one percent.
The Mortgage Bankers Association is reporting a 4.3 percent decline in weekly mortgage applications last week, as demand for refinancing dropped for the fourth week in a row.
H.J. Heinz (
HNZ) beat earnings expectations with first quarter 2013 adjusted earnings of 87 cents a share.
Joy Global reported a 12 percent increase in third quarter earnings but the mining equipment maker cut its full-year profit and sales forecasts.
Tomorrow we'll get a look at the numbers for weekly jobless claims as well as earnings results from Zumiez (NASDAQ:
For Marketnewsvideo.com, I'm Sayoko Murase.
Tuesday Sector Laggards: Precious Metals, Metals & Mining Stocks
Related symbols: BTG, SVLC, ANR, ACI
Tuesday Sector Leaders: Specialty Retail, Waste Management Stocks
Related symbols: GKNT, BGFV, TRR, CWST
Friday Sector Laggards: Water Utilities, General Contractors & Builders
Related symbols: SBS, CDZI, GRBK, SPF
Tuesday's ETF with Unusual Volume: URTH
Related symbols: URTH, BAC, AAPL, TWC, NBR
Tuesday's ETF Movers: GXC, GDX
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SHV, GDXX: Big ETF Outflows
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Daily Dividend Report: WY, FGP, FRED, BKJ
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Daily Market Wrap: August 29, 2012
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