No Rest for the Weary

Coming out of the last holiday weekend of the summer, investors were over- whelmed with concern about the develop- ments around Syria. Then the economic data flow started soothing concerns in the U.S. We cover the economic, commodity, international and security market highlights here.

No Rest for the Weary

Market ETF	September 3, 2013	Year-to-Date
SPDR S&P 500 (NYSE: SPY)	+0.4%	+15.8%
SPDR Dow Jones (NYSE: DIA)	+0.2%	+14.2%
PowerShares (Nasdaq: QQQ)	+0.6%	+15.9%

Stocks turned around Tuesday intraday, as an unsettled trading environment due to the sounding of Syria scenarios settled. It’s hard to say the government’s work toward making the right move regarding the Middle East issue was the reason. More likely, it was economic data and corporate news.

Economic Events

ECONOMIC REPORT SCHEDULE
Economic Data Point	Prior Period	Expected	Actual
TUESDAY
ISM Manufacturing Index	55.4	53.8	55.7
MarkitEconomics PMI Index	53.7	53.9	53.1
Construction Spending	0.0% (Revised)	0.3%	0.6%
Gallup Economic Confidence	-12		-13
Gallup Consumer Spending	$89		$95

The first day back from the holiday weekend produced far too much economic data for the weary to absorb, so we summarized it for you here. Probably the most important data on the day was the ISM Manufacturing Index, with the Construction Spending measure coming in a close second. The manufacturing environment strengthened, which was not expected by economists. Markit Economics’ Purchasing Managers’ Index offered a conflicting message, but the market values the ISM report more.

Construction Spending grew 0.6% in July, reassuring many in the sector about the affect of rising interest rates on housing and other construction and business. Gallup said consumer spending actually picked up in its last check up, so the economic flow helped investors cope with Syrian worries.

Overseas Markets

EUROPE	CLOSE	ASIA/PACIFIC	CLOSE
EURO STOXX 50	-0.8%	NIKKEI 225	-0.5%
German DAX	-0.8%	Hang Seng	+1.0%
CAC 40	-0.8%	S&P/ASX 200	-0.6%
FTSE 100	-0.6%	Korean KOSPI	-0.5%
Bloomberg GCC 200 Mideast	-1.1%	BSE India SENSEX	-3.5%

International markets were overwhelmed with concern about the Middle Eastern developments.

Commodity Markets (CLOSE)

WTI Crude	-0.1%
Brent Crude	+1.2%
NYMEX Natural Gas	+0.4%
RBOB Gasoline	+0.0%
Gold Spot	-0.1%
Silver Spot	+0.1%
COMEX Copper	+0.0%
CBOT Corn	-0.8%
CBOT Wheat	-0.5%
CBOT Soybeans	-0.8%
ICE Cocoa	-0.7%
ICE Sugar	+0.8%
ICE Orange Juice Conc.	-3.5%
CME Lumber	-0.5%
CME Live Cattle	-0.1%

Oil and gold are fluctuating minute to minute with the developments around the Syrian issue. A report of an early Friday frost warning for as far as the Northeast had orange juice futures falling precipitously Tuesday.

Corporate Events

Earnings season has officially fizzled out here at the close of summer and start of September, as evidenced by the light list of reporters this week.

REPORTING EARNINGS
Company	Ticker
TUESDAY
Versar	NYSE: VSR
OncoMed Pharmaceuticals	Nasdaq: OMED
Matrix Service	Nasdaq: MTRX
Pike Electric	Nasdaq: PIKE
Rexford Industrial Realty	Nasdaq: REXR
Guidewire Software	Nasdaq: GWRE
Sparton	NYSE: SPA
H&R Block	NYSE: HRB
ABM Industries	NYSE: ABM
UCP LLC	NYSE: UCP

MOST ACTIVE STOCKS
BIGGEST GAINERS	% Gain
JetPay (Nasdaq: JTPY)	+21%
Nokia (NYSE: NOK)	+31%
Investor’s Capital (NYSE: ICH)	+20%
American Realty Investors (NYSE: ARL)	+18%
Greene County Bancorp (Nasdaq: GCBC)	+18%
Hanwha Solar One (Nasdaq: HSOL)	+16%
Renesola (NYSE: SOL)	+15%
JinkoSolar (NYSE: JKS)	+15%
Income Opportunity Realty (NYSE: IOT)	+14%
Inovio Pharmaceuticals (NYSE: INO)	+13%
BIGGEST LOSERS	% Drop
Cytokinetics (Nasdaq: CYTK)	-27%
Banco Bradesco (Nasdaq: BBDO)	-19%
XG Technology (Nasdaq: XTGIW)	-15%
Paulson Capital (Nasdaq: PLCC)	-14%
Banco-Santander (NYSE: SAN.PF)	-14%
Direxion India Daily Bull 3X (Nasdaq: INDL)	-13%
Pacific Biosciences (Nasdaq: PACB)	-12%
Kingtone WirelessInfo (Nasdaq: KONE)	-12%
IFM Investments (NYSE: CTC)	-11%
USEC (NYSE: USU)	-11%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.