US close: Home sales data buoys stocks into quarter end

Date: Wednesday 27 Jun 2012

-Evans (Fed) economy will grow at stall speed next two years
-Evans (Fed) would support more bond buying
-Evans (Fed) sees modest boost from prolonging Operation Twist

Dow Jones: 0.74%
Nasdaq Comp.: 0.74%
S&P 500: 0.90%.

The main US equity benchmarks finished today´s session, the third to the last for the quarter, moderately higher. That following the release of what appears to be largely ‘in-line’ data on durable goods orders.

Acting as a back-drop, Germany´s chancellor, Angela Merkel, indicated that she opposes any debt sharing until sufficient controls are in place.

Nevertheless, she was also quoted as saying that she will ask other countries whether they are ready to move forward with treaty changes (in that direction, it is understood).

Back on the company front, the latest results from firms such as Monsanto, Mc.Cormick and General Mills came in ahead of analysts´ expectations. The latter, however, guided lower for next year.

Bristol Myers Squibb announced a $3bn share buy-back program.

Entropic Communications rocketed higher after the guiding up for its fiscal second quarter.

House builder Lennar is up 5% following its own results.

From a sector stand-point the best performance was seen in the following industrial groups: coal (5.51%), home construction (2.92%) and tires (2.88%).

Pending home sales data surprises on the upside

Durable goods orders data for the month of May came in better than forecast showing a 1.0% month-on-month rise (Consensus: 0.6%). Excluding transportation, nonetheless, the increase came in at an 0.4% month-on-month pace (Consensus: 0.6%).

Durable goods orders, excluding defense and aircraft, grew by 1.6% month-on-month, following a fall of 1.4% in April.

The MBA´s weekly mortgage index fell by 7.1%.

Pending home sales data for the month of June showed growth of 5.9% month-on-month, well ahead of the 1.0% foreseen by economists.

Crude futures rise, despite inventory data

Front month West Texas crude futures are now higher by 0.80% to the 79.76 dollar per barrel mark.

Weekly oil inventories fell by 133,000 barrels (while imports did so by approximately 1.5m barrels), according to the latest data from the Department of Energy.

10 year US treasuries ended up by 1/32 dollars, with yields at 1.62%.

S&P 500 - Risers
AK Steel Holding Corp. (AKS) $5.85 +10.48%
Cabot Oil & Gas Corp. (COG) $41.24 +8.96%
QEP Resources Inc (QEP) $27.55 +8.04%
NRG Energy Inc. (NRG) $16.55 +6.02%
Alpha Natural Res (ANR) $8.19 +5.95%
Nabors Industries Ltd. (NBR) $13.51 +5.63%
CONSOL Energy Inc. (CNX) $28.58 +5.62%
Southwestern Energy Co. (SWN) $31.14 +5.45%
Peabody Energy Corp. (BTU) $22.27 +5.45%
United States Steel Corp. (X) $19.74 +5.42%

S&P 500 - Fallers
O'Reilly Automotive Inc. (ORLY) $82.61 -14.34%
Chipotle Mexican Grill Inc. (CMG) $391.78 -5.69%
AutoZone Inc. (AZO) $359.00 -4.65%
Windstream Corp. (WIN) $9.33 -4.50%
Ross Stores Inc. (ROST) $63.70 -3.83%
Macy's Inc. (M) $33.14 -3.10%
Harley-Davidson Inc. (HOG) $44.93 -2.71%
Genuine Parts Co. (GPC) $58.53 -2.69%
Tiffany & Co. (TIF) $50.29 -2.63%
Sealed Air Corp. (SEE) $14.90 -2.42%

Dow Jones I.A - Risers
JP Morgan Chase & Co. (JPM) $36.78 +3.00%
Bank of America Corp. (BAC) $7.77 +2.04%
Coca-Cola Co. (KO) $76.34 +1.68%
Alcoa Inc. (AA) $8.53 +1.67%
General Electric Co. (GE) $20.13 +1.67%
E.I. du Pont de Nemours and Co. (DD) $49.62 +1.62%
Chevron Corp. (CVX) $102.57 +1.60%
American Express Co. (AXP) $56.88 +1.37%
Boeing Co. (BA) $71.87 +1.33%
Walt Disney Co. (DIS) $47.87 +1.21%

Dow Jones I.A - Fallers
McDonald's Corp. (MCD) $88.33 -0.86%
Home Depot Inc. (HD) $51.55 -0.64%
Caterpillar Inc. (CAT) $82.25 -0.58%
Cisco Systems Inc. (CSCO) $16.73 -0.51%
Verizon Communications Inc. (VZ) $43.78 -0.14%

Nasdaq 100 - Risers
Dell Inc. (DELL) $12.33 +3.40%
Nvidia Corp. (NVDA) $13.14 +3.22%
NetApp Inc. (NTAP) $30.59 +3.14%
First Solar Inc. (FSLR) $15.35 +3.12%
Life Technologies Corp. (LIFE) $45.17 +2.99%
Marvell Technology Group Ltd. (MRVL) $11.33 +2.77%
Express Scripts Holding Co (ESRX) $53.50 +2.61%
Nll Holdings Inc. (NIHD) $10.37 +2.57%
News Corp. Class A (NWSA) $22.31 +2.53%
Vertex Pharmaceuticals Inc. (VRTX) $61.11 +2.50%

Nasdaq 100 - Fallers
O'Reilly Automotive Inc. (ORLY) $82.61 -14.34%
Ross Stores Inc. (ROST) $63.70 -3.83%
Sandisk Corp. (SNDK) $35.41 -2.37%
Starbucks Corp. (SBUX) $52.75 -2.22%
Whole Foods Market Inc. (WFM) $94.99 -1.98%
Urban Outfitters Inc. (URBN) $26.75 -1.33%
Cisco Systems Inc. (CSCO) $16.73 -0.51%
eBay Inc. (EBAY) $42.29 -0.49%
Fastenal Co. (FAST) $38.37 -0.49%
Cerner Corp. (CERN) $77.66 -0.41%

AB

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