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Mid-Day Market Update: August 17, 2012

Financial News Network
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August 18, 2012 AT 2:57 PM
Here is your Mid-day Market Update for August 17. Stocks slightly in the green on Friday after economic data showed a rise in consumer sentiment in August.The University of Michigan -Thompson Reuters consumer-sentiment index rose to 73.6 for the month of August, higher than the previous month of 72.3. Analysts were expecting a decline in 71.8. Before the recession, the index averaged around 87. This unexpected climb though has caused stocks to edge higher into afternoon trading.Oil and Gold trading mixed so far today. Oil is up just over $95 a barrel. Gold is in the opposite direction though, down $2 so far to $1,617 an ounce.A big winner so far in today's session is Ann, Its stock is up over 21% due to its positive quarterly results. One of the biggest losers is Marvell Technology Group (NASDAQ:MRVL). Its shares are down over 15% after analysts downgraded the stock on disappointing second quarter earnings.Taking a look at the market so far today, the Dow has gained over 11 points to 13,261. The S&P is up almost one point and the Nasdaq has added over 8 points so far today.For more market updates and analysis of the business world follow us on twitter @FNNOnline or check out our website at fnno.com