LONDON (ShareCast) - -Dow Jones Transports drops 2.64%
-UBS raises S&P target to 1525 from 1375
-Rosengren and Lockhart support QE3
-Iran moving men and supplies into Syria -Debka
-IMF may slightly reduce its global growth forecasts

Dow Jones Industrials: -0.08%
Nasdaq Comp.: -0.27%
S&P 500: -0.16%

Yesterday, US investors were cheering news from the east - the Bank of Japan's expansion of its quantitative easing programme - but today has brought less welcome news, in the form of a slow-down in manufacturing activity in China.

The preliminary HSBC China manufacturing sector purchasing managers´ index for the month of September came in at 47.8, slightly above the previous month´s reading, according to survey compiler Markit.

However, it continues to indicate a contraction in the sector, for the eleventh month in succession, and marks the longest such streak in the eight year history of the series, something which has apparently not been lost on market watchers.

That is what is weighing on the Dow Jones Transportation average today, by far the worst performer on the NYSE at the moment.

More specifically, and on the corporate front, shipping company Norfolk Southern is heading south after it lowered its profit outlook for the third quarter. Lower shipments of coal and merchandise hit the railway operator, and it has guided to third quarter earnings per share of somewhere between $1.18 and $1.25, down from $1.59 in the corresponding quarter of last year.

Bank of America has announced 16,000 lay-offs.

Bed,Bath&Beyond is down following its latest quarterly results.

In contrast, Apogee Enterprises upped its profits guidance. The company, which designs, engineers and manufactures window systems for commercial and security buildings, moved back into the black in the second quarter, prompting the group to forecast earnings per share for fiscal 2013 of somewhere between 56 and 64 cents, compared to its previous guidance range of 48 cents to 58 cents.

Conagra is one of the best performers today after raising its quarterly dividend as well as its full-year guidance.

Also on a more positive note, Boston Federal Reserve President Eric Rosengren has indicated that he strongly supports the central banks´ open ended purchases.

Favorable reading on Philly Fed index

The latest jobless figures have done nothing to engender enthusiasm for equities. First-time jobless claims may have decreased by 3,000 to 382,000 in the week ended September 15th, but economists were expecting a lower number, somewhere around 375,000.

The Federal Reserve Bank of Philadelphia´s manufacturing index for the month of September has printed at -1.9 points, slightly ahead of the reading of -4.5 expected and last month´s -7.1. Significantly, perhaps, the new orders sub-index rose to 1 from -5.5, its highest in four months.

Crude futures steady after recent falls

Front month West Texas crude futures are now edging up by 0.25%, to the 92.21 dollar per barrel mark on the NYMEX.

10 year US Treasuries are rising by 4/32 dollars, with yields at 1.75%.

S&P 500 - Risers
ConAgra Foods Inc. (CAG) $27.38 +6.74%
Denbury Resources Inc. (DNR) $17.48 +4.55%
Dollar Tree Stores Inc. (DLTR) $49.15 +4.43%
Gannett Co. Inc. (GCI) $18.85 +3.05%
Mattel Inc. (MAT) $36.16 +2.58%
Limited Brands Inc. (LTD) $51.08 +2.15%
Monster Beverage Corp (MNST) $54.90 +2.14%
Adobe Systems Inc. (ADBE) $33.76 +1.93%
Frontier Communications Co. (FTR) $4.76 +1.82%
Ross Stores Inc. (ROST) $66.81 +1.69%

S&P 500 - Fallers
J.C. Penney Co. Inc. (JCP) $26.32 -9.53%
Norfolk Southern Corp. (NSC) $66.31 -8.78%
Bed Bath & Beyond Inc. (BBBY) $63.08 -8.30%
Carmax Inc. (KMX) $29.61 -7.38%
CSX Corp. (CSX) $21.56 -5.40%
Sears Holdings Corp. (SHLD) $58.76 -4.61%
First Solar Inc. (FSLR) $22.53 -4.05%
Alpha Natural Res (ANR) $7.35 -3.67%
Cliffs Natural Resources Inc. (CLF) $41.35 -3.59%
Union Pacific Corp. (UNP) $120.61 -3.55%

Dow Jones I.A - Risers
Kraft Foods Inc. (KFT) $41.45 +1.49%
Microsoft Corp. (MSFT) $31.35 +0.96%
Chevron Corp. (CVX) $117.69 +0.93%
Pfizer Inc. (PFE) $24.37 +0.87%
Exxon Mobil Corp. (XOM) $91.19 +0.68%
Merck & Co. Inc. (MRK) $44.81 +0.67%
AT&T Inc. (T) $37.99 +0.60%
Coca-Cola Co. (KO) $38.68 +0.42%
Johnson & Johnson (JNJ) $68.88 +0.41%
Procter & Gamble Co. (PG) $69.51 +0.36%

Dow Jones I.A - Fallers
Alcoa Inc. (AA) $9.28 -2.01%
Caterpillar Inc. (CAT) $92.46 -1.58%
Hewlett-Packard Co. (HPQ) $17.82 -1.55%
United Technologies Corp. (UTX) $80.58 -1.40%
Bank of America Corp. (BAC) $9.20 -0.97%
JP Morgan Chase & Co. (JPM) $40.97 -0.89%
General Electric Co. (GE) $22.26 -0.74%
Cisco Systems Inc. (CSCO) $19.00 -0.60%
Boeing Co. (BA) $69.50 -0.57%
Home Depot Inc. (HD) $59.14 -0.55%

Nasdaq 100 - Risers
Dollar Tree Stores Inc. (DLTR) $49.15 +4.43%
Sirius Satellite Radio Inc. (SIRI) $2.57 +3.21%
Mattel Inc. (MAT) $36.16 +2.58%
Monster Beverage Corp (MNST) $54.90 +2.14%
Adobe Systems Inc. (ADBE) $33.76 +1.93%
Ross Stores Inc. (ROST) $66.81 +1.69%
Kraft Foods Inc. (KFT) $41.45 +1.49%
Starbucks Corp. (SBUX) $50.84 +1.45%
O'Reilly Automotive Inc. (ORLY) $83.61 +1.38%
Staples Inc. (SPLS) $12.29 +1.15%

Nasdaq 100 - Fallers
Bed Bath & Beyond Inc. (BBBY) $63.08 -8.30%
Green Mountain Coffee Roasters Inc. (GMCR) $28.52 -7.43%
Sears Holdings Corp. (SHLD) $58.76 -4.61%
Electronic Arts Inc. (EA) $13.46 -3.37%
Fossil Inc. (FOSL) $88.85 -3.14%
Avago Technologies Ltd. (AVGO) $34.00 -3.00%
Micron Technology Inc. (MU) $6.46 -2.86%
Research in Motion Ltd. (RIMM) $7.01 -2.77%
Baidu Inc. (BIDU) $111.28 -2.50%
Stericycle Inc. (SRCL) $91.53 -2.27%

AB

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