4:17 PM, Sep 9, 2010 –
NYSE up 33.95 (+0.49%) to 7,033.89DJIA up 28.23 (+0.3%) to 10,415S&P 500 up 5.31 (+0.48%) to 1,104Nasdaq up 7.33 (+0.3%) to 2,236
GLOBAL SENTIMENT
Hang Seng up 0.37%Nikkei up 0.82%FTSE up 1.19%
UPSIDE MOVERS
(+) TIN upgraded.
(+) HMY upgraded.
(+) GS handed fine by U.K. regulator.
(+) ARM launches new high-end core processor.
(+) VZ names new CFO.
(+) MVIS gains as analyst coverage initiated at Buy.
(+) GERN gains on report of successful lengthening of Telomeres to extend human lifespan.
DOWNSIDE MOVERS
(-) QCOR continues evening decline that followed FDA delay.
(-) MCD down despite reporting August global comparable sales up 4.9%.
(-) FUQI gets SEC subpoena.
MARKET DIRECTION
Stocks cling to a narrow gain at today’s close as the initial reaction to a better-than-expected weekly jobless claims report faded. A report saying Deutsche Bank (DB) might sell stock to raise billions in cash limited bullish enthusiasm.
Oil for October delivery fell 42 cents, or 0.6%, to $74.25 a barrel by the close of floor trading on the New York Mercantile Exchange. Natural gas closed down 5 cents, or 1.2%, at $3.768 per million British thermal units, reversing lower after weekly inventories data.
Reported this morning, initial unemployment benefit claims fell by a stronger-than-expected 27,000 to 451,000 last week, according to the Labor Department.
But post-report gains faded after Bloomberg reported Deutsche Bank AG is considering a stock sale to raise as much as $11.4 billion. Financial stocks have been having trouble gaining traction this week.
McDonald’s (MCD) fell after reporting a smaller-than-expected gain in August sales.
Tech stocks were broadly higher as Adobe Systems (ADBE) remains up sharply after Apple (AAPL) eased restrictions that had curbed use of Adobe’s Flash software.
