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Stocks Slide Into The Red, Gold Jumps

April 24, 2014

New York (Apr 24)  Markets have lost their early gains, and they've now slipped into the red.

Meanwhile, gold has surged by around $15/oz in the last half hour. It's trading near $1,293/oz.

After the closing bell on Wednesday, Apple announced better-than-expected earnings, boosted its dividend, and increased its share buyback authorization. It also announced a 7-to-1 stock split.

Apple is up a whopping 7% right now, and it's arguably what's keeping the Nasdaq in the green.

Earlier today, we learned that initial jobless claims jumped to 329,000 from 305,000 a week ago. This was a bit higher than the 315,000 expected by economists.

On a much more positive note, durable goods orders jumped 2.6% beating expectations for a 2.0% increase. Nondefense capital goods orders excluding aircraft jumped 2.2%, which was much stronger than the 1.5% expected.

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