24/7 Wall St. Closing Bell — December 28, 2012: Markets Sink on Lack of Cliff Deal (NOK, RIMM, HLF, CALL)

Bull and Bear figuresU.S. equity markets opened about lower this morning, and couldn't catch a bid all day. The impending fiscal cliff dominated sentiment in Europe as well as the U.S. In Asia, Japan's Nikkei closed out the year with a 12-month gain of 23%, its best performance since 2005. In Europe, France revised its third quarter GDP growth estimate downward to a mere 0.1%. Retail sales in Spain declined less than the expected 10% and Italy sold 10-year debt at 4.48%, only a few ticks higher that the November price. In the U.S., concerns over the fiscal cliff overshadowed a decent report on Chicago PMI (more coverage here) and a better than expected rise in pending home sales (more coverage here).

The U.S. dollar index rose rose 0.07% today, now at 79.678. The GSCI commodity index is down less than 0.1% at 645.78, with commodities prices mixed today. WTI crude oil closed down 0.1% today, at $90.80 a barrel, but closed the week up 2.4% as crude inventories fell slightly (more coverage here). Brent crude trades down 0.1% at $110.66 a barrel. Natural gas is up 1.6% today at about $3.47 per thousand cubic feet, following a storage report that was in line with expectations (more coverage here). Gold settled down 0.4% today at $1,656.30 an ounce, and closed the week down 0.3%.

The unofficial closing bells put the DJIA down more than 158 points to 12,937.73 (-1.21%), the NASDAQ fell more than 25 points (-0.86%) to 2,960.31, and the S&P 500 fell -1.10% or nearly 16 points to 1,402.43.

There were no earnings reports of note today and none are scheduled for Monday.

Some standouts from today include the following stocks:

Nokia Corp. (NYSE: NOK) is down 4.6% at $3.82. The mobile phone maker got some bad press today from Barron's, although it did collect about $65 million from Research in Motio Ltd. (NASDAQ: RIMM) as a first payment from a patent litigation settlement. More coverage here.

Herbalife Ltd. (NYSE: HLF) is up 3.8% at $29.36. The nutrition and weight loss supplement maker's shares are making a comeback (now down about 40% for the year) from the beating it took last week on news that William Ackman had amassed a huge short position in the company.

magicJack VocalTec Ltd. (NASDAQ: CALL) is up 10.3% at $17.96. The VoIP provider appointed a new CEO today and forecast a stronger-than-expected fourth quarter.

Stay tuned for Monday. We have noted the following events on the schedule (all times Eastern):

  • 10:30 a.m. – Dallas Fed manufacturing survey
  • 3:00 p.m. – Farm prices

Have a great weekend!

Paul Ausick

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: CALL, HLF, NOK, RIMM
Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.