Market Overview

End-of-Day Market Summary for January 11, 2012

This is your Benzinga news summary for Wednesday, January 1, 2012, covering headlines from Wednesday's daytime trading session.

Today at market close, the Dow Jones Index traded down about 13.39 points 0.11%, the S&P 500 traded 0.03% higher, the Nasdaq Composite Index traded up 0.31%, and the U.S. dollar trades slightly higher near the $81.60 level.

Earlier today, UBS upgraded Lamar Advertising (NASDAQ: LAMR) to Neutral and Goldman Sachs upgraded Graco (NYSE: ROK) to Buy. View all of today's upgrades here.

Morgan Stanley downgraded WebMD (NASDAQ: WBMD) to Underweight and Deutsche Bank downgraded SUPERVALU (NYSE: SVU) to Hold. View all of today's downgrades here.

Overseas, European markets ended their trading session higher. Britain's FTSE 100 lost 0.45%, Germany's DAX decreased by 0.17% and France's CAC 40 slid by 0.19% on the session. Asian stocks ended their session mixed. China's Shanghai Index tumbled by 0.39%, Japan's Nikkei 225 increased by 0.30%, and the Hang Seng index gained 0.78%.

On the economic calendar, MBA Mortgage Applications came in at 4.5% versus a previous number of -4.1%. On the commodity front, gold and silver futures traded higher today, with gold trading about 0.1% higher today. Energy futures are lower, with crude oil down over 1% near the $101.10 level and gasoline futures are trading lower by about 0.1%. Natural Gas futures are lower by about 5.5% and copper futures are trading over 0.2% higher.

Today's afternoon earnings announcements included none.

In corporate news, Flowserve (NYSE: FLS) announced that Thomas L. Pajonas to Chief Operating Officer (NYSE: APC).

99-Cent Only Stores (NYSE: NDN) announced that reports +8.5% same-store sales as well as positive revenues in the third quarter..

Apollo Commercial Real Estate Finance (NYSE: ARI) announced that it will refinance all of its borrowings from the TALF program.

This concludes your news summary for January 1, 2012.

Posted-In: News Broad U.S. Equity ETFs Upgrades Downgrades Events Global Econ #s Economics Best of Benzinga

 

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