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: Oil & Gas Exploration & Production, Rental, Leasing, & Royalty Stocks
Related symbols: HERO, EXXI, ROYT, BPT
Wednesday Sector Leaders: Education & Training Services, Hospital & Medical Practitioners
Related symbols: CECO, ESI, HCA, CYH
Tuesday Sector Laggards: General Contractors & Builders, Trucking Stocks
Related symbols: TPH, TMHC, ARCB, YRCW
Wednesday's ETF Movers: XBI, ILF
Related symbols: OREX, CLDX, BRFS, CPL, ILF, XBI
SHY, ERY: Big ETF Outflows
Related symbols: SHY, ERY
SCPB, UPV: Big ETF Inflows
Related symbols: SCPB, UPV
Daily Dividend Report: GME, INT, HRC, CVS, USB, SPLS, SNV, CHH, CST
Related symbols: GME, INT, HRC, CVS, USB, SPLS, SNV, CHH, CST
Daily Dividend Report: MJN, ROST, GPS, WYN, DLR, ECL, PPL
Related symbols: MJN, ROST, GPS, WYN, DLR, ECL, PPL
Daily Dividend Report: TD, CM, CB, PLD, KSS, ESS, TMO, ACE, CI
Related symbols: TD, CM, CB, PLD, KSS, ESS, TMO, ACE, CI
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Daily Market Wrap: August 29, 2012
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