Daily Market Wrap: October 24, 2012 Wednesday, October 24, 5:06 PM ET
Better than expected housing data and positive earnings reports gave investors reason to be optimistic as the markets made a bit of a recovery today.
The Commerce Department is reporting a 5.7 percent rise in new home sales in September to a seasonally adjusted annual rate of 389,000.
That number was better than economists' expectations for a total of 385,000 annualized units.
Also on the economic front, weekly mortgage applications fell 2.3 percent last week, as interest rates increased, according to the Mortgage Bankers Association.
Shares of Netflix (NASDAQ:
NFLX) tumbled today after the company cut its full year subscriber forecast, prompting several brokerages to slash their price targets on the firm.
In M&A news, Nike (NYSE:
NKE) announced that Iconix Brand (NASDAQ: ICON) will buy its Umbro brand in a deal worth nearly $225 million.
Tomorrow, we'll take a look at the numbers for weekly jobless claims as well as earnings from ConocoPhillips (NYSE:
For Marketnewsvideo.com, I'm Sayoko Murase.
Wednesday Sector Leaders: Rental, Leasing, & Royalty, Precious Metals
Related symbols: HGT, MTR, ANV, MVG
Wednesday Sector Laggards: General Contractors & Builders, Sporting Goods & Activities
Related symbols: MTH, HXM, MANU, WBAI
Monday Sector Leaders: Rental, Leasing, & Royalty, Department Stores
Related symbols: REFR, NRT, JCP, SHLD
Wednesday's ETF with Unusual Volume: FEMS
Related symbols: FEMS, JASO, DANG, IMOS, XIN
Wednesday's ETF Movers: GDX, XBI
Related symbols: ASR.CA, DGC.CA, PBYI, ICPT, XBI, GDX
XLV, CHIX: Big ETF Outflows
Related symbols: XLV, CHIX, JNJ, PFE
Daily Dividend Report: CNI, MWE, SXL, CMA, DD
Related symbols: CNI, MWE, SXL, CMA, DD
Daily Dividend Report: MET, SPG, SO, NBL, SYK
Related symbols: MET, SPG, SO, NBL, SYK
Daily Dividend Report: OKE, NRG, HAS, ED, COL
Related symbols: OKE, NRG, HAS, ED, COL
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Daily Market Wrap: October 24, 2012
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