Market Slips on Earnings and Economic Data
The video that this transcript is based on appeared on Nov 12.
NEW YORK (TheStreet) -- Markets edged lower as solid earnings and economic data fueled speculation of a wind-back in central bank bond buying.
Good afternoon and welcome to the closing bell. I'm Jane Searle from the strange on Tuesday November 12. Today markets ended lower as solid earnings and economic data lifts speculation the central bank may soon reduce stimulus. The Dow and the S&P 500 closed down today, while the NASDAQ was unchanged. Earlier, I spoke with Mark Newton of Gray Wolf execution partners.
Mark, so we're marginally lower again today is there any compelling reason for that other than ongoing speculation about the end of stimulus?
The market's been basically unchanged since the end of October; I mean the Treasury also started higher, the dollar but bottomed out we're still seeing meaningful movement higher and now the US dollar against are the Euro more meaningfully against the yen and sterling pound sterling on the last couple days. Markets right now are basically unchanged at the Dow Jones has moved higher but yet the broader indices are really having a tough time pushing higher so it's going to be in to see exactly what the catalyst is either for us to break up to new high territory across the board or to show more signs of falling back.In corporate news News Corp (NWSA) flipped as the media company reported a fall in revenues and I G energy dropped after the power generation lowered its 2013 earnings target. DISH Network (DISH) gained as the satellite TV provider's earnings beat estimates, and Hologic (HOLX)dived after the company's sales forecast disappointed. Tomorrow investors will look to endings from Macy's (M) in fact some consumer demand. Coming up tomorrow morning, live from the NASDAQ in Time Square out John Marino will have all the other night action from overseas along with toys you should be watching to get your trading day started. From TheStreet, I'm Jane Searle New York have, a great evening.
Written by Jane Searle in New York.
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