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.
Wednesday Sector Laggards: Waste Management, General Contractors & Builders
Related symbols: BHTG, NEWA, WLH, HOV
Wednesday Sector Leaders: Vehicle Manufacturers, Entertainment Stocks
Related symbols: ADOM, FUV, LIVX, FOXA
Tuesday Sector Laggards: Non-Precious Metals & Non-Metallic Mining, Defense Stocks
Related symbols: ZEUS, CENX, AJRD, HII
EEM, EET: Big ETF Outflows
Related symbols: EEM, EET, BABA, BIDU
IWP, BWZ: Big ETF Inflows
Related symbols: IWP, BWZ, ZTS, ILMN
Wednesday's ETF Movers: XBI, WOOD
Related symbols: TSRO, ONCE, PCH, UFS, WOOD, XBI
Daily Dividend Report: FITB, ORCL, HPQ, SRE, O
Related symbols: FITB, ORCL, HPQ, SRE, O
Daily Dividend Report: SBUX, LLY, USB, CL, IEX
Related symbols: SBUX, LLY, USB, CL, IEX
Daily Dividend Report: CPT, THO, WSM, IVR, ANH
Related symbols: CPT, THO, WSM, IVR, ANH
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Daily Market Wrap: August 29, 2012
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