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August 23, 2013

Investors ready for Nasdaq dust to settle

By CNNMoney

Fingers crossed for a smooth day on the Nasdaq.

Investors weren't making any big moves in the aftermath of a technical glitch that shut down trading in all Nasdaq-listed stocks and options for several hours.

After a volatile week of mixed messages from the Fed and the Nasdaq outage, U.S. stock futures were narrowly weaker Friday.

With little economic or corporate news on the horizon, Friday's session could be quiet. Investors are just waiting on new home sales data for July, which will be released at 10 a.m. ET.

U.S. stocks closed higher Thursday even after Nasdaq's trading glitch.

Late Thursday, SEC chair Mary Jo White said the trading halt "should reinforce our collective commitment to addressing technological vulnerabilities of exchanges and other market participants."

The SEC plans to speed up its efforts for new rules to strengthen markets. White said she intends to hold a meeting soon with leaders of the major exchanges and other market participants.

On the move: Shares of J.C. Penney rallied in premarket trading, one day after the struggling retailer adopted a stockholder rights plan to protect itself against a hostile takeover.

Aeropostale shares plummeted after the teen retailer posted weak results.

Pandora reported strong earnings, but the stock fell after the online radio company issued weaker-than-expected guidance.

European markets were mixed in morning trading.

In Asia, markets in China ended with narrow losses, but Japan's Nikkei rallied by 2.2%.

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