Stock Market Today – SanDisk (SNDK) Slips while American Intl. Group (AIG) Gains – Gold Higher after Close

Images of SNDK and AIG

(Best Syndication News) Stock markets are opening lower in Asia Thursday after another sell-off in the United States (see stock charts below). Equities were lower Wednesday after a near-failed bond sale in Spain and a disappointing statement from the Federal Reserve.

Investors were optimistic there would be more quantitative easing (QE3) after statements made by Ben Bernanke last week. While the Fed Chairman didn’t say there would be another round of QE, the door was left open. The Federal Open Market Committee (FOMC) statement Tuesday was discouraging and didn’t hint there would be more easy money.

The Shanghai composite index (China) opened up 1.37 percent while the Hang Seng (Hong Kong) and Nikkei 225 (Japan) fell 1.09 percent and 0.99 percent respectively. This follows a decline of 0.95 percent in the DJIA and a 1.19 percent decline in the tech-heavy NASDAQ.

SanDisk Corporation (NASDAQ:SNDK) was the big loser in our widely-held index, falling more than five percent during the trading day (see the widely-held stock chart below). The flash memory maker was the bearer of bad news, telling investors that there was weak demand for mobile phones and an increased in inventories. This will affect their profit margins.

In the after-hours the share price of SNDK gained 27 cents (+0.61%) to $44.78. There was a bid of $44.50 on 600 shares and an ask of $45.12 on 100 shares.

The big winner in our index was American International Group, Inc. (NYSE:AIG), up more than five percent during the session. The insurance company received an analyst upgrade. AIG might also spin-off their airline leasing business. The volume of trading was nearly 400 percent above average.

In the after-hours AIG jumped another 18 cents (+0.55%) to $32.70 a share. There was a bid of $32.50 on 1,500 shares and an ask of $32.97 for 1,200 shares.

Gold, Silver, and Oil Prices

More quantitative easing would have increased the inflation rate and could have been good news for commodity investors. But that didn’t happen and the prospects of future QE are uncertain.

June gold on the COMEX fell nearly 58 dollars during the session Wednesday (see commodity chart below). Since the close, gold is up $10.40 to 1,624.50 a troy ounce.

Silver slipped more than six percent, but the metal gained nearly 40 cents in the after-hours to $ 31.435 an ounce.

Brent crude oil on the Intercontinental Exchange (ICE) fell 57 cents to $124.86 a barrel. Light sweet crude oil (WTI) on the New York Mercantile Exchange (NYMEX) fell $2.54 to $101.47 a barrel. Since the settle WTI is up 81 cents to $102.28.

The U.S. dollar (USD) advanced against the euro (EUR) but slipped against the Japanese yen (JPY). See the average charts below.

By: Dan Wilson

World Markets (as of Wed):

Wednesday World Stock Indexes 1 Day 1 Day 1 Week 30-Day 100-Day
4/2/2012 N. & S. AMERICA Pt Change % Change % Change % Change % Change
13,074.75 Dow Jones Industrial -124.80 -0.95% -0.39% 0.69% 11.08%
1,398.96 S&P 500 -14.42 -1.02% -0.47% 2.60% 15.03%
3,068.09 NASDAQ Composite -45.48 -1.46% -1.19% 3.76% 18.55%
12,178.66 S&P TSX Canada -144.95 -1.18% -1.89% -4.34% 2.21%
63,528.65 Brazil Bovespa Stock -755.61 -1.18% -2.38% -3.48% 11.48%
39,398.88 IPC MXX - Mexico -526.05 -1.32% 1.25% 3.61% 9.11%
2,557.46 MerVal Buenos Aires -48.04 -1.84% -4.72% -9.25% 1.53%
820.38 Russell 2000 Sm-Cap -14.42 -1.73% -1.69% -1.07% 14.14%
828.17 Russell 3000 98% Mkt -9.30 -1.11% -0.56% 2.09% 15.12%
EUROPE
5,703.77 FTSE 100 England -134.57 -2.30% -1.81% -3.94% 5.17%
3,313.47 CAC 40 France -93.31 -2.74% -3.40% -3.88% 10.07%
6,784.06 DAX Germany -198.22 -2.84% -3.07% -0.37% 15.96%
703.94 Athens Greece Comp. -5.26 -0.74% -6.47% -5.71% -2.88%
772.64 IGBM Madrid Spain -15.96 -2.02% -3.99% -9.95% -6.79%
6,166.79 SSMI - Swiss Market -91.87 -1.47% -1.34% -0.55% 9.25%
16,260.14 FTSE Italia All (Italy) -405.52 -2.43% -6.84% -6.22% 1.74%
ASIA & PACIFIC
2,262.79 Shanghai China 0.00 0.00% -0.97% -6.12% -8.10%
9,819.99 Nikkei 225 Japan -230.40 -2.29% -3.56% 2.34% 15.81%
20,790.98 Hang Seng Hong Kong 0.00 0.00% -0.45% -2.76% 10.49%
7,760.85 TSEC Taiwan Exchange 0.00 0.00% -3.45% -2.22% 5.05%
4,333.90 S&P ASX 200 Australia -3.10 -0.07% -0.22% 1.11% 1.78%
17,486.02 BSE Sensex Bombay -111.40 -0.63% 2.13% -3.28% 6.22%
5,322.90 CNX NIFTY NSE India -35.60 -0.66% 2.47% -2.93% 7.87%
2,018.61 Korea Com KOSPI -30.67 -1.50% -0.65% 0.54% 7.56%
2985.04 STI Singapore -29.94 -0.99% -1.03% 0.56% 7.44%

Widely-Held Index:

Wednesday One Day One Day 1-Week
4/4/2012 Name Symbol Change % %
44.51 SanDisk Corporation SNDK -5.54 -11.07% -11.60% 1
63.02 Sears Holdings Corporati... SHLD -5.04 -7.41% -8.65% 2
41.67 St. Jude Medical, Inc. STJ -2.13 -4.86% -5.34% 3
2.75 Sprint Nextel Corporatio... S -0.13 -4.51% -2.83% 4
7.66 Micron Technology, Inc. MU -0.33 -4.13% -11.34% 5
21.73 First Solar, Inc. FSLR -0.87 -3.85% -13.32% 6
8.62 Janus Capital Group Inc. JNS -0.34 -3.79% -6.20% 7
13.87 JDS Uniphase Corporation JDSU -0.53 -3.68% -4.93% 8
35.04 Citigroup Inc. C -1.33 -3.66% -5.45% 9
             
             
20.12 Safeway Inc. SWY 0.24 1.21% -0.25% 477
22.49 CSX Corporation CSX 0.34 1.53% 4.51% 478
135.58 Lorillard Inc. LO 2.19 1.64% 4.02% 479
5.39 SUPERVALU INC. SVU 0.09 1.70% -9.26% 480
4.37 Frontier Communications... FTR 0.08 1.86% 8.71% 481
6.27 RadioShack Corporation RSH 0.12 1.95% -2.49% 482
21.56 Quanta Services Inc PWR 0.44 2.08% 2.37% 483
8.38 Southwest Airlines Co. LUV 0.18 2.20% 0.24% 484
26.65 The Gap Inc. GPS 0.60 2.30% 1.49% 485
22.75 Avon Products, Inc. AVP 0.56 2.52% 18.06% 486
32.52 American Intl. Group... AIG 1.65 5.34% 9.49% 487

Commodities:

Wednesday Survey # 2 (BSNCOM2) One-Day One-Day 1 Week 30-Day 100-Day
4/4/2012 Energy and Metal Settle $ Change % Change % Change % Change % Change
2099.00 Aluminum 3-mo LME -26.00 -1.22% -3.67% -2.98% -2.14%
124.86 Brent crude (not settled) -0.57 -0.45% -0.54% 4.42% 11.51%
57.87 Coal 0.02 0.03% 1.70% -3.15% -21.51%
3.79 Copper HG -0.13 -3.28% -0.05% 2.22% 6.34%
101.47 Crude oil (WTI) -2.54 -2.44% -3.74% -1.71% 7.65%
2.27 Ethanol ZE CBOT -0.02 -0.66% 2.67% 2.30% -15.26%
1614.10 Gold GC -57.90 -3.46% -2.64% -6.48% -8.09%
3.16 Heating Oil (HO) -0.07 -2.06% -1.47% -0.88% 2.94%
2.14 Natural gas NG HH -0.05 -2.10% -2.28% -20.23% -43.40%
631.80 Palladium PA -26.85 -4.08% -2.25% -8.18% -3.57%
1598.60 Platinum PL -56.60 -3.42% -2.24% -2.16% -1.73%
3.33 RB RBOB Gasoline -0.06 -1.82% -0.85% 10.55% 25.16%
31.04 Silver SI -2.22 -6.68% -2.47% -6.54% -8.92%
695.00 Steel Hot-Roll Coil 0.00 0.00% 0.00% -4.53% 9.45%
51.00 UxC Uranium U3O8 -0.25 -0.49% -0.10% -2.21% -1.92%
4/4/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day
351.5 Average All -10.52 -2.91% -1.98% -4.62% -2.66%
655.1 Metals Average -23.99 -3.53% -2.38% -4.99% -4.78%
42.2 Energy Average -0.47 -1.10% -1.24% 0.49% 1.01%
52.0 Ratio Gold/Silver Prices 1.73 3.44% -0.17% 0.07% 0.91%
-15.5 Difference Plat-Gold 1.30 -7.74% -31.72% -83.15% -88.01%
1.01 Ratio Plat/Gold 0.00 -0.04% -0.41% -4.41% -6.46%
1.2 Ratio Brent / WTI Prices 0.02 2.04% 3.32% 6.24% 3.59%
$23.39 Difference Brent - CL 1.97 9.20% 16.19% 43.15% 32.07%

Average Dollar Rates:

Wednesday Average Surveys 1 - 3 % Change Day % Change Wk % Ch 30-Day Ch 100-Day
4/4/2012 Average 1US$ = Currency Pos=$US Gain Pos=$US Gain Pos=$US Gain Pos=$US Gain
0.9710 Average Against Aussie -0.15% 0.99% 3.43% -1.57%
0.7605 Average Against Euro € 0.37% 1.54% 0.61% 3.54%
82.1441 Average Against Yen ¥ -0.58% 0.21% 2.52% 5.95%
0.6290 Average Against Pound £ -0.07% 0.55% -0.80% 0.17%
0.9152 Average Against Franc 0.32% 1.40% 0.28% 1.08%
0.9966 Average Against Canadian 0.49% -0.05% -0.07% -2.30%
Average 1Currency = US$ Pos=$US Loss Pos=$US Loss Pos=$US Loss Pos=$US Loss
1.0299 Average Against Aussie 0.15% -0.98% -3.31% 1.60%
1.3149 Average Against Euro -0.37% -1.51% -0.60% -3.42%
0.0122 Average Against Yen 0.58% -0.21% -2.46% -5.62%
1.5898 Average Against Pound 0.07% -0.55% 0.80% -0.17%
1.0926 Average Against Franc -0.32% -1.38% -0.28% -1.06%
1.0034 Average Against Canadian -0.48% 0.05% 0.07% 2.35%

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