LONDON (SHARECAST) - -Bill Gross touts benefits of gold in a diversified portfolio
-Deutsche Bank raises 2013/2014 gold price forecasts
-Deutsche Telekom confirms talks with Metro PCS for merger
Dow Jones Industrial: -0.44%
Nasdaq Comp.: 0.01%
S&P 500: -0.03%
US stocks are trading mixed on a trading day which has been almost completely bereft of macroeconomic data releases, although said vacuum will be more than filled in the coming sessions.
Even so, the fact remains that today investors may well have suffered a setback on the front which they are most closely watching in the very short run, the Spanish crisis.
Thus, ratings agency Moody’s this afternoon announced that this same month it will decide whether or not to downgrade Spain’s debt rating to ‘junk’. This even as the Prime Minister of the country indicated that he will not put forward a call for aid this weekend, as some had been speculating.
Metro PCS is now rocketing higher, after Deutsche Telekom confirmed this afternoon that it may acquire the telecommunications operator. Rival Leap Wireless is up in sympathy while Sprint, which had been mooted by some as a potential suitor for Metro, is off.
Analysts at Citi have downgraded home builder KB Home to sell from neutral, while Lennar has been upped to neutral from sell.
Falls in the share price of Ford and Chipotle Mexican Grill are being linked to comments by hedge-fund manager Bill Einhorn.
A sign of the times, in his monthly investment letter fund-manager Bill Gross tells investors that he believes that gold must be a part of any diversified portfolio.
Analysts at Deutsche Bank, for their part, have today raised their gold price forecasts for 2013 and 2014 by 3% and 11.1%, to 40 and 44 dollars per ounce, respectively.
Light data calendar
Comparable retail sales rose by 1.6% on month in September, according to the latest Redbook survey data.
Slight gains in oil and bonds
10 year US Treasuries are now rising by 2/32 dollars, with yields at 1.62%.
Front month West Texas crude futures are up by 0.13 dollars to the 92.6 dollar per barrel mark on the NYMEX.
S&P 500 - Risers
Metropcs Communications Inc. (PCS) $13.74 +19.27%
First Solar Inc. (FSLR) $22.77 +3.83%
Time Warner Cable Inc. (TWC) $98.39 +2.80%
Gilead Sciences Inc. (GILD) $69.26 +2.70%
Constellation Brands Inc. Class A (STZ) $33.51 +2.56%
WellPoint Inc. (WLP) $59.45 +2.54%
International Game Technology (IGT) $13.36 +2.38%
Ralph Lauren Corp (RL) $155.30 +2.33%
AutoNation Inc. (AN) $44.50 +2.30%
PulteGroup Inc. (PHM) $15.66 +2.29%
S&P 500 - Fallers
Sprint Nextel Corporation (S) $4.95 -4.54%
Mosaic Company (MOS) $55.76 -3.88%
J.C. Penney Co. Inc. (JCP) $23.67 -3.70%
Chipotle Mexican Grill Inc. (CMG) $304.86 -3.56%
Allegheny Technologies Inc. (ATI) $31.11 -3.17%
Raytheon Co. (RTN) $54.20 -2.48%
Advanced Micro Devices Inc. (AMD) $3.20 -2.29%
Tenet Healthcare Corp. (THC) $6.34 -2.08%
Frontier Communications Co. (FTR) $4.72 -2.07%
Sealed Air Corp. (SEE) $15.37 -1.98%
Dow Jones I.A - Risers
Microsoft Corp. (MSFT) $29.62 +0.44%
3M Co. (MMM) $93.60 +0.33%
AT&T Inc. (T) $37.81 +0.16%
General Electric Co. (GE) $22.84 +0.13%
Chevron Corp. (CVX) $117.40 +0.13%
Merck & Co. Inc. (MRK) $45.24 +0.05%
Dow Jones I.A - Fallers
E.I. du Pont de Nemours and Co. (DD) $49.65 -1.41%
Procter & Gamble Co. (PG) $68.73 -1.04%
Cisco Systems Inc. (CSCO) $18.85 -1.00%
McDonald's Corp. (MCD) $91.13 -0.93%
Caterpillar Inc. (CAT) $84.69 -0.91%
Hewlett-Packard Co. (HPQ) $17.06 -0.87%
Boeing Co. (BA) $69.40 -0.87%
American Express Co. (AXP) $57.23 -0.87%
Walt Disney Co. (DIS) $51.65 -0.81%
Travelers Company Inc. (TRV) $68.55 -0.75%
Nasdaq 100 - Risers
Research in Motion Ltd. (RIMM) $8.26 +5.03%
Sirius Satellite Radio Inc. (SIRI) $2.65 +3.51%
Green Mountain Coffee Roasters Inc. (GMCR) $24.00 +2.96%
Gilead Sciences Inc. (GILD) $69.26 +2.70%
Sandisk Corp. (SNDK) $43.97 +2.23%
Celgene Corp. (CELG) $78.39 +2.10%
BMC Software Inc. (BMC) $43.51 +1.56%
F5 Networks Inc. (FFIV) $106.20 +1.44%
Amgen Inc. (AMGN) $86.29 +1.42%
Lam Research Corp. (LRCX) $31.97 +1.27%
Nasdaq 100 - Fallers
Starbucks Corp. (SBUX) $49.18 -1.92%
Expeditors International Of Washington Inc. (EXPD) $35.50 -1.77%
NetApp Inc. (NTAP) $32.38 -1.70%
Staples Inc. (SPLS) $11.43 -1.55%
Randgold Resources Ltd. Ads (GOLD) $125.08 -1.42%
Dollar Tree Stores Inc. (DLTR) $47.67 -1.30%
Bed Bath & Beyond Inc. (BBBY) $62.39 -1.14%
Warner Chilcott Plc (WCRX) $13.27 -1.12%
Priceline.Com Inc. (PCLN) $617.98 -1.10%
Citrix Systems Inc. (CTXS) $75.08 -1.07%