Market RECAP: Fed Saves the Day as Gold GLITTERS
Here’s your Cheat Sheet to Wednesday trading and the market’s BIGGEST movers:
Markets closed mixed on Wall Street yesterday: Dow -0.23%, S&P +0.02%, Nasdaq +0.21%, Oil +0.43%, Gold +0.87%.
On the commodities front, Oil (NYSE:USO) rose to $97.30 a barrel. Precious metals also increased, with Gold (NYSE:GLD) rising to $1,657 an ounce while Silver (NYSE:SLV) rose 0.43% to settle at $29.86.
Here’s your Cheat Sheet to today’s top stock stories:
Verizon (NYSE:VZ) is preparing its staff for something big next month, issuing an all-staff vacation blackout from September 21 until September 30, and speculators believe it’s the next iPhone launch. At this point, a September iPhone launch seems all but certain — after all, it’s been nearly a year since Apple (NASDAQ:AAPL) released the last iteration of its top-selling smartphone, and tech blogs and insider sources have been churning out rumors since March, with the information becoming more credible and more specific as time progressed.
James River Coal Co.(NASDAQ:JRCC) rose a second consecutive day. On Wednesday, shares increased more than 9 percent after Tuesday’s news that a federal court had sent an emissions ruling to the Environmental Protection Agency for a revision.
Williams-Sonoma Inc. (NYSE:WSM) shares jumped 11 percent. With the company’s revived gross margin and strong sales growth, its profit increased 10 percent in the fiscal second quarter. The quarterly results exceeded Wall Street expectations.
Zynga Inc.’s (NASDAQ:ZNGA) shares increased 7.4 percent after J.P. Morgan began coverage on it with a “Market Outperform” rating.
On the downside, Dell Inc.’s (NASDAQ:DELL) shares declined 5.3 percent. After the bell on Tuesday, the company cut its full-year earnings outlook and gave a down revenue outlook for its current quarter.