Benzinga Mid-Day Market Update
Following the market opening Tuesday morning, the Dow traded down 1.72 percent to 13,115.97 while the NASDAQ fell 0.88 percent to 2,990.48. The S&P also fell, decreasing 1.44 percent to 1,413.20.
As a heads up for the week, we have now entered the most busy period of earnings season. Some significant companies that will announce this week include Apple (NASDAQ: AAPL), Facebook (NASDAQ: FB), Amazon (NASDAQ: AMZN), Raytheon (NYSE: RTN), and Sprint Nextel (NYSE: S).
Top Headline Apple (NASDAQ: AAPL) is scheduled to host a media event today at 1:00 PM Eastern Time, where the company is expected to release the iPad mini, along with a host of other speculated product updates.
Equities Trading UP Yahoo! (NASDAQ: YHOO) traded up 5.73 percent to $16.67 on heavy volume, after the company surprised investors by posting a significant earnings beat after the close Monday.
Coach (NYSE: COH) traded up 8.33 percent to $56.68 following an earnings beat this morning.
Shares Harley-Davidson (NYSE: HOG) rose 6.82 percent to $46.50 following an earnings beat Tuesday morning.
Equities Trading DOWN Shares of Tronox (NYSE: TROX) took a beating Tuesday, falling 9.98 percent to $20.25, possibly linked to the very poor earnings report released earlier by DuPont.
Autoliv (NYSE: ALV) traded down 9.51 percent to $57.57 after the company posted a drop in its third-quarter profit Tuesday morning.
Du Pont (NYSE: DD) was also down, falling 8.74 percent to $45.41 after the company missed earnings by over 31 percent this morning.
Commodities In commodity news, oil traded down 0.48 percent to $88.30, while gold traded down 0.95 percent to $1,713.90.
Silver traded down 0.43 percent Tuesday to $31.82.
Euro Zone In Eurozone news this morning, Moody's downgraded the bond ratings of 5 Spanish ratings, including Catalonia. The vote of no confidence by the ratings agency has sent European markets down for the day.
Economics The only economic release for Tuesday was the Richmond fed manufacturing index, which came in at -7, well below the estimate of 5, and the prior figure of 4.
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