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Record Low Mortgage Rates Boost Markets
Posted on June 07, 2012 at 13:45 PM EDT
The markets traded higher during the midday with the Dow climbing 90 points to 12,505 as mortgage rates dropped again to a new record low. Nasdaq rose 6 points to 2851.
On the upside
CACI International (NYSE: CACI) forecast 2013 earnings well above analyst expectations.
The Paragon Report expects increasing natural vehicle sales to lift shares of natural gas engine company Westport Innovations (Nasdaq: WPRT).
Celsion (Nasdaq: CLSN) and the University of Oxford will jointly conduct a clinical trial of Celsion's ThermoDox in combination with ultrasound-guided High Intensity Focused Ultrasound to treat metastatic liver cancer.
On the downside
First quarter earnings rose for Titan Machinary (Nasdaq: TITN) but the results fell short of analyst expectations.
Men's Wearhouse (NYSE: MW) disappointed with lower first quarter earnings that missed estimates and the company forecast second quarter results below expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 768.
Barrick Gold Corp. Caci International Inc. Cl A Celsion Corporation Dow Jones Industrial Average Dow Jones Industrial Average (EOD) Kinross Gold Corp. Mens Wearhouse, Inc. NYSE COMPOSITE INDX Russell 1000 Index Russell 2000 Russell 3000 Index Standard & Poors 500 TITAN MACHINERY Westport Innovations, Inc.
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